14
Aug
15:50
Klöckner sees prices, shipments weakening in second half
As a result of low steel prices and weak demand, distribution group Klöckner & Co recorded a significant year-on-year decrease in operating income in the second quarter.
The firm suffered a net loss of €111 million ($131m), compared with a net profit of €28m in the prior-year period. Revenue dropped by -30.4% to €1.171 billion on shipments that fell -27.6% to 1.07 million tonnes, Kallanish notes.
Klöckner & Co has continued to d…
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Anonymous
Very good overview of the weekly steel market.
Anonymous