05
May
14:35
Hadeed records first-quarter sales decline, turns to loss
Saudi Iron & Steel Company (Hadeed) posted a -15% on-year decline in first-quarter revenue to SAR 2.77 billion ($738.7 million) and it sunk to a loss from operations of SAR 208.2m versus a SAR 0.47m income a year earlier.
According to worldsteel data, Hadeed’s crude steel output fell -2.2% on-year in Q1 to 2.06 million tonnes, but direct reduced iron production increased 10.3% to 1.15mt.
The steelmaker’s sales volumes dropped -2% on-year in 2019 t…
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Anonymous
Very good overview of the weekly steel market.
Anonymous