15
Aug
13:46
Saudi Watani Steel's earnings shrink on lower demand
Riyadh-based longs producer Watani Iron Steel Company (WISC)'s financials registered in the first half of 2022 a dip on the back of ongoing low demand in the Saudi domestic market, compared to the same period last year, Kallanish notes.
The firm saw revenue decrease in H1 by 3.31% on-year to SAR 311.3 million ($83m) and by 15% in profit to SAR 25.5m, says WISC in a bourse filing without providing tonnages and further details.…
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Very good overview of the weekly steel market.
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