04
Aug
16:01
Covid-19 bites into Allegheny Technologies' earnings
US specialty metals producer Allegheny Technologies Inc (ATI) posted heavy losses in the second quarter related to Covid-19 demand disruptions, Kallanish understands.
ATI lost $422.6 million on sales of $770m during the quarter, down from a profit of $75.1m on sales of $1.08 billion in Q2 2019.
“Despite steep demand declines in a majority of our markets, ATI delivered adjusted second quarter results that exceeded initial expectations," says…
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Very good overview of the weekly steel market.
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