14
Oct
01:00
Essar Steel Algoma returns to profit in Q3, launches refinancing
Canadian steelmaker Essar Steel Algoma reported a net profit of CDN $52.9 million ($47.1m) for the quarter ending 30 September, up from a net loss of CDN $80.8m in the same period last year, Kallanish learns from the company.
The improvement is due partly to a 28% year-on-year increase in shipments to 680,092 tonnes. Ebitda in the period amounted to CDN $85.2m.
The firm is launching a refinancing of its capital structure, which will see Indian parent …
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Very good overview of the weekly steel market.
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