04
Feb
00:00
SABIC steel sales decline 5% in 2014 amid re-evaluation of new steel plants
Saudi Iron and Steel Company (Hadeed) has reported a -5% year-on-year decline in sales in 2014 to SAR 13.51 billion ($3.6bn). Net income meanwhile dropped -24% to SAR 1.34bn, Kallanish learns from parent company SABIC.
SABIC chief executive Mohamed al-Mady said last month the firm is re-evaluating its proposed $4.26 billion investment into new heavy plate and cold rolling mills. This follows the slump in oil prices of over -50% since last June and fall…
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Anonymous
Very good overview of the weekly steel market.
Anonymous