19
Apr
01:00
Sabic posts 'record' steel sales of 5.67mt in 2014 despite production decline
Saudi Iron and Steel Company (Hadeed) achieved record annual shipments of 5.67 million tonnes in 2014, despite “challenging” market conditions, the fully-owned subsidiary of SABIC says. Production, however, fell by 2% versus 2013 to 5.8mt.
Despite the record tonnage, Hadeed’s revenue was down -5% in 2014 to SAR 13.51 billion ($3.6bn), while net income dropped -24% to SAR 1.34bn (see Kallanish 5 February).
The company released far les…
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Anonymous
Very good overview of the weekly steel market.
Anonymous