07
Nov
15:42
Saudi Steel Pipe revenue surges on increased deliveries
Saudi Steel Pipe (SSP) reported a 64% on-year surge in third-quarter revenue to SAR 201.21 million ($46.4m) thanks to increased project-related deliveries.
In July SSP won a SAR 245m contract to supply Saudi Aramco with various diameters of welded pipe (see Kallanish passim).
However, the firm sunk to a net loss of SAR 14.46m versus a profit of SAR 5.21m in Q3 2016. This was due to an impairment loss of SAR 23.6m at Chemical Development Company (CDC). CDC has…
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Anonymous
Very good overview of the weekly steel market.
Anonymous