01
Dec
00:50
Mycron Steel’s net profit declines on falling prices
Malaysian steel maker Mycron Steel has reported lower net profit in the first quarter due to falling steel prices, Kallanish notes.
The firm says in a bourse filing that its first quarter net profit declined by 22.45% to MYR 1.22 million ($260,000) from MYR 1.58m a year earlier.
The lower profit was due to lower price spread attributed to weak market conditions and an influx of imports.
The firm’s revenue for the quarter, however, grew 35.57% to MYR…
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Anonymous
Very good overview of the weekly steel market.
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