16
Nov
11:19
Mughal foresees further input cost rise, increases sales
Mughal Steel expects input costs to increase further in the December quarter due to the devaluation of the rupee and increase in average scrap consumption rate.
The Pakistani long steelmaker reported a 11.5% on-year rise in sales in the first fiscal quarter through September to PKR 6.02 billion ($44.9 million) and net profit rose 15.2% to PKR 352.1m. Exports totalled PKR 2.9m versus zero last year. Costs increased due to an increase in international scrap prices…
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Anonymous
Very good overview of the weekly steel market.
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