16
Aug
10:45
Weaker medium-dia pipe shipments hurt Saudi Steel Pipe
Lower high-margin medium-diameter pipe sales were the main reason for Saudi Steel Pipe (SSP)’s weaker-than-expected second-quarter performance, according to the National Commercial Bank (NCBC).
These sales were at 23,900 tonnes, lower than NCBC’s forecast of 36,000t, the bank says in a note seen by Kallanish. Consolidated revenue thus came in at SAR 142.4 million ($37.97m) in Q2, or -29% lower than estimates. However, small-diameter pipe shipments in…
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Anonymous
Very good overview of the weekly steel market.
Anonymous