27
Feb
18:04
Sinking sheet prices bite into Webco earnings
US specialty tubing producer Webco Industries’ fiscal second quarter profits dropped by more than half on-year, Kallanish reports.
In the quarter ended 31 January, Webco earned $2 million on sales of $112.4m, down from earnings of $4.9m on sales of $135.9m in fiscal Q2 2019.
Webco attributes the drop to both lower volumes and “...significant market reductions” in carbon steel sheet prices.
“The current industrial economy…
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Anonymous
Very good overview of the weekly steel market.
Anonymous