05
May
14:34
Allegheny Technologies raises profits by cutting costs
US specialty metals producer Allegheny Technologies Inc saw its profits rise on-year in the first quarter, despite challenges related to the Covid-19 pandemic, Kallanish reports.
Allegheny earned $21.1 million on sales of $956m in Q1, up from earnings of $15m on sales of $1 billion in Q1 2019.
“We achieved solid first quarter results despite a significant deterioration in market conditions late in the quarter,” says ceo Robert Wetherbee. &…
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Very good overview of the weekly steel market.
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