26
Oct
12:04
Post-lockdown demand rebound lifts Hadeed's third-quarter earnings
Saudi Iron & Steel Company (Hadeed) reported a -6% on-year decline in revenue in the third quarter to SAR 2.18 billion ($581.3 million), while loss from operations doubled to SAR 440m.
Revenue was, however, up 29% over Q2, driven by higher sales volumes due to an increase in demand following an easing in lockdowns and improved macroeconomics conditions, parent company Sabic says without providing tonnages. Volumes rose 36% on-quarter, but average sales prices …
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Anonymous
Very good overview of the weekly steel market.
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