17
May
12:36
Cognor billet sales surge but earnings drop
Cognor’s billet sales surged 167% on-year in the first quarter, pushing up overall sales of scrap, semi-finished and finished steel by 27.4%. However, sales prices declined and the firm did not receive the same boost as in Q1 2023 from significant energy sales. This meant consolidated revenue fell 22.7%.
Billet sales rose by 58,600 tonnes, although Q1 scrap and finished steel sales fell 13,900t or 42% and 2,800t or 3.2% respectively, Cognor says without prov…
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Anonymous
Very good overview of the weekly steel market.
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