25
Jun
14:11
Vedanta profits from ore, incurs steel segment loss
Vedanta’s steel segment saw merchant production fall -8% on-year to 320,000 tonnes in the March quarter, with sales down -22% to 305,000t. Margin was, however, up 4% to $127/t.
The Electrosteel Steels subsidiary increased pig iron output 31% to 46,000t, but output of billet, rebar, wire rod and ductile iron pipe all fell. Revenue fell -29% to INR 1,126 crores ($148.9 million) and Ebitda declined -21% to INR 268 crores.
In its iron ore segment, Vedanta&rsquo…
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Anonymous
Very good overview of the weekly steel market.
Anonymous