03
Sep
11:58
Shadeed sales continue rebound in August
Jindal Shadeed’s sales continued to recover in August, surging 40% on-year to 154,000 tonnes. This was also up from 125,000t in July. Production rose 32% on-year to 200,000t.
In the June quarter Shadeed saw steel output slump -36% on-quarter to 360,000t, while sales fell -6% to 500,000t as Covid-19-related labour shortages compounded lower oil prices’ impact on Middle Eastern construction activity (see Kallanish passim). Sales and output rebounded 6% a…
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Anonymous
Very good overview of the weekly steel market.
Anonymous