22
May
13:51
Jindal Shadeed deliveries fall, lower prices hamper earnings
Jindal Shadeed reported a -4% on-year decline in sales in the fourth fiscal quarter through March 2019 to 460,000 tonnes as falling global steel prices hampered revenue and margin at the Oman-based plant. Ebitda dropped -51% to $35 million.
Middle East steel spreads was adversely affected in the quarter due to aggressive Iranian offers, the steelmaker observes.
Sales in the fiscal year through March 2020 rose 8% on-year to 1.8 million tonnes and Shadeed recor…
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Anonymous
Very good overview of the weekly steel market.
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