06
Mar
16:41
Depressed prices, currency losses further hamper IDC profitability
Izmir Demir Celik (IDC) reported lower shipments and profitability in 2019 as it was hit by depressed steel prices and tight margins, as well as foreign exchange losses.
The Turkish electric arc furnace-based steelmaker’s finished steel sales fell -19% on-year in 2019 to 1.22 million tonnes, but semi-finished steel sales rose to 15,009t from practically zero in 2018. Exports rose 6% to 365,459t, although their value fell.
IDC’s revenue fell -12% in 20…
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Anonymous
Very good overview of the weekly steel market.
Anonymous