29
Jul
16:01
Hadeed sinks to second-quarter loss
Saudi Iron & Steel Company (Hadeed) saw revenue fall -10% on-year in the second quarter to SAR 2.56 billion ($682.7 million) and it sunk to a loss from operations of SAR 136.1m versus a year-earlier profit of SAR 267.4m.
Hadeed’s share in Sabic’s consolidated revenue nevertheless grew to 7.1% in Q2 versus 6.6% in the year-earlier quarter due to the significant revenue drop in Sabic’s main petrochemicals segment.
In the six months th…
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Anonymous
Very good overview of the weekly steel market.
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