23
Jul
13:36
Severstal revenue falls, but Russian demand seen rebounding
Lower steel sales volumes and unfavourable raw materials price dynamics decreased Severstal's revenue in the first half of 2020, the company says. The Russian steelmaker foresees domestic steel demand partially recovering in the second half.
Second-quarter revenue slid -10.5% on-quarter to $1.59 billion, resulting in H1 revenue falling -20% on-year to $3.367 billion. Q2 net profit increased 5.4% on-quarter to $391 million, meaning H1 profit fell -1.95% to $463…
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Anonymous
Very good overview of the weekly steel market.
Anonymous