24
Feb
11:57
Sonasid posts profits warning, blames China
Moroccan rebar producer Sonasid has issued a profit warning. It says that it expects its 2015 turnover to fall by -17% year-on-year due to lower rebar prices and a fall in sales volumes, Kallanish learns from the company.
“This fall is explained by a growing Chinese steel overcapacity causing lower prices and higher export volumes,” the company says in a note.
Moroccan rebar consumption in 2015 increased only slightly by 2.7% y-o-y. This happened …
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Anonymous
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