13
May
09:34
Noble’s iron ore trade shrinks but remains profitable
Noble Group’s net profit slumped -62% year-on-year to $40.48 million in the first quarter of 2016, according to its unaudited results announcement. The company has reduced volumes in many sectors, including iron ore, to concentrate on contract performance and managing its debt burden, Kallanish notes.
The company’s total revenues were down -32% to $11.39 billion during the quarter. The Mining & Metals division saw traded volumes fall -35.85% to 6…
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Anonymous
Very good overview of the weekly steel market.
Anonymous