02
Jun
07:17
Krakatau Steel reports its first profit on cost reduction
Indonesian steelmaker Krakatau Steel reported its first profits of $74.1 million in the first quarter of 2020, which is also the company's first profits in the past eight years, Kallanish notes.
Krakatau Steel's president director Silmy Karim said that the profits were contributed by a -39.8% reduction in cost of revenue and -41.5% in administrative and general costs. This helped the company see a $46.8m reduction in operating expenses on a year-on-ye…
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Anonymous
Very good overview of the weekly steel market.
Anonymous