15
Feb
20:15
Friedman commits to steel futures despite hedging loss
Despite losing big on steel futures contracts, US coil processor and tubular producer Friedman Industries remains committed to utilising hot-rolled coil futures to mitigate commodity price risk.
In its fiscal third quarter ended 31 December, 2021, Friedman lost $13 million related to HRC futures contracts, Kallanish understands. This pushed its quarterly net loss to $2.96m on sales of $51.65m. In the year-ago quarter, the company posted net earnings of $2.1m on sa…
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Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous