18
Oct
16:06
Project slowdown, competition curtail Yamamah Steel shipments, profitability
Al Yamamah Steel Industries Company recorded a -4.7% on-year decline in revenue in its fourth fiscal quarter through September to SAR 267.1 million ($71.2m).
This was due to a -12% decline in shipments on account of a “… stagnation” in Saudi Arabian project activity and “… intense competition,” the Saudi re-roller says without providing tonnages in a stock exchange filing seen by Kallanish. Net profit slumped -45.5% to SAR 1…
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Anonymous
Very good overview of the weekly steel market.
Anonymous