27
Feb
05:48
Weak market hits Malaysian steelmakers’ performances
Malaysia Southern Steel and Ann Joo Resources posted declining profits in 2019. The two companies are facing oversupply of imports and a slump in domestic demand, Kallanish notes.
Southern Steel recorded its largest ever loss of MYR 334.96 million ($79.3 million) in the December-2019 quarter, compared with a MYR 44.41m loss in the same period last year. The main reason for the loss was the calculation of impairment losses on plants and equipment. Excluding this, S…
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Anonymous
Very good overview of the weekly steel market.
Anonymous