29
Jan
11:26
Margin squeeze hinders Hadeed profitability despite volume growth
Saudi Iron & Steel Company (Hadeed) increased revenue 10% on-quarter in the fourth quarter of 2019 to SAR 2.54 billion ($677 million) thanks to a 21% growth in volumes, according to parent company Sabic. Shipments also rose 11% on-year.
However, Ebitda sunk to negative SAR 360 million from positive SAR 60m in Q3 on account of lower sales prices coupled with higher feedstock costs, Sabic says in a report seen by Kallanish without providing specific figures. Pri…
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Anonymous
Very good overview of the weekly steel market.
Anonymous