31
Mar
13:25
Maghreb Steel posts 2019 losses but continues production
Morocco’s Maghreb Steel has posted its 2019 results and has confirmed that the company is continuing production amid the ongoing uncertainty caused by the Covid-19 outbreak, Kallanish learns.
The sole Moroccan flats supplier made a loss of over MAD 290 million ($28.5m) in 2019, slightly below the loss of over MAD 300m in 2018. Turnover at the company was lower y-o-y, but the mill said it was able to reduce variable production costs by -15% to -22% and fixed …
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Very good overview of the weekly steel market.
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