23
Aug
01:00
Gas availability positive for Ezz, but not enough to break even: bank
Ezz Steel’s first-quarter results are a positive indication on natural gas availability for Egypt’s steel industry. However, the steelmaker’s depressed margins means it is unlikely to break even, according to investment bank EFG Hermes.
Although Ezz’s Q1 net loss deepened -616% on-year to EGP 136 million ($17.4m), this was up from a EGP 235m loss registered in Q4 2014, beating EFG Hermes' estimates. Foreign exchange (FX) gains &ld…
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Anonymous
Very good overview of the weekly steel market.
Anonymous