03
Aug
12:07
Saudi's East Pipes swings to loss
Dammam-based East Pipes Integrated Company posted in the first quarter of the fiscal year through March 2024 (FQ1) an 81.14% on-year and 91.22% on-quarter slump in revenue to SAR 38.84 million ($10.36m), Kallanish notes.
During the period, the company signed contracts with a combined value of SAR 1.8 billion with Aramco for steel pipe supply. The financial impact is expected to be seen in the December 2023 and March 2024 quarters, as well as the June 202…
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Very good overview of the weekly steel market.
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