22
Oct
11:14
Higher demand, prices boost Severstal's third-quarter earnings
Russian vertically-integrated steelmaker Severstal's third-quarter revenue increased by 17.9% on-quarter to $2.26 billion, driven by steel prices recovery and steel sales volumes growth, the company says.
Ebitda in Q3 totalled $656 million, up by 30.9% on-quarter. But net profit fell to $167m, down by -57.3% mainly due to the devaluation of the Russian rouble, Kallanish notes.
In January-September Severstal's revenue declined by -17% on-year t…
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Anonymous
Very good overview of the weekly steel market.
Anonymous