18
Jul
14:06
Ezz Q1 utilisation drops despite strong flats exports
Ezz Steel will in the coming quarters work on raising working capital after a shortfall in Q1, resulting from the Egyptian pound devaluation, led to a much reduced capacity utilisation at the Egyptian steelmaker.
The producer’s consolidated steel sales fell -16% on-year in Q1 to 995,000 tonnes, driven by a -34% slump in long steel shipments to 673,000t. Nevertheless, flats deliveries surged 89% to 321,000t due to better export conditions following the free…
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Anonymous
Very good overview of the weekly steel market.
Anonymous