29
Oct
14:29
Aerospace demand freeze hits Allegheny Technologies' profits
Specialty metals producer Allegheny Technologies Inc reported a net loss during the third quarter, largely due to the challenging aerospace market created by Covid-19, Kallanish reports.
The company lost $50.1 million on sales of $598m during the quarter, down from a profit of $111m on sales of $1 billion in Q3 2019.
“By proactively focusing on reducing costs, we accelerated savings, limited decremental margins and drove third quarter results th…
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Anonymous
Very good overview of the weekly steel market.
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