25
Sep
01:00
Ezz Steel sees Egyptian demand firming after weak exports hit H1 revenue
Egypt’s Ezz Steel foresees stronger domestic demand offsetting additional production costs due to energy price hikes, after it recorded an 8% year-on-year decline in revenue in the first half of 2014, the company tells Kallanish. The fall was due mainly to weaker long product exports, and saw the producer sink to a net loss of EGP 176 million ($24.6m) from a profit of EGP 302m in H1 2013.
Revenue totalled EGP 10.26 billion in H1 as weakness in internat…
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Anonymous
Very good overview of the weekly steel market.
Anonymous