26
Jan
13:42
Iraq rebar mill writes down assets on stoppage
Al Tanmiya for Steel Industries’ board of directors has decided to write down assets by SAR 164 million ($43.7m) after carrying out a fair value assessment in light of the Iraq-based rebar mill’s continued stoppage.
This write down was booked as a charge to Tanmiya’s income statement. It has no impact on the consolidated results of majority shareholder Astra Industrial Group. This is because it relates to the capitalised borrowing cost that Ast…
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Very good overview of the weekly steel market.
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