03
Nov
15:04
Covid cuts GrafTech earnings in half on-year
US graphite electrode supplier GrafTech saw its third-quarter earnings fall by about half on-year, Kallanish reports.
GrafTech earned $94 million during the quarter on sales of $287m, down from earnings of $176m on sales of $421m in Q3 2019.
The company attributes the lower sales figure to “...the impact of Covid-19 on steel production levels and continued customer inventory destocking.”
GrafTec notes that its average long-term agreement …
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