17
Aug
12:33
Hadeed sales slump, loss deepens in second quarter
Saudi Iron & Steel Company (Hadeed) reported a -34% on-year slump in revenue in the second quarter to SAR 1.69 billion ($450.7 million), while net loss quadrupled to SAR 587.7m, according to parent company Sabic.
In the first half of 2020 Hadeed thus saw revenue fall -23% on-year to SAR 4.5 billion and net loss deepen over six-fold to SAR 795.9m.
Saudi Arabian steel demand has been impacted by lower oil prices, which have reduced the government’s b…
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Anonymous
Very good overview of the weekly steel market.
Anonymous