09
Nov
11:07
Delayed deliveries, costlier inputs deepen Saudi pipemakers' losses
Saudi Steel Pipe (SSP) posted a -35% on-year slump in revenue in the third quarter to SAR 126.48 million ($33.73m), while net loss deepened 67% to SAR 24.15m, Kallanish notes.
The worse performance was the result of losses at subsidiary TSM Arabia, the scheduled production stoppage at the large-diameter pipe mill, and a decline in project deliveries due to delayed input material deliveries. Moreover, commercial pipe sales declined, while input prices increased, …
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Anonymous
Very good overview of the weekly steel market.
Anonymous