19
Oct
11:08
Further downside steel price risk seen for Sabic
Investment bank EFG Hermes sees further downside risk to steel, iron ore and scrap prices affecting Saudi Arabia’s largest steelmaker, Sabic.
Sabic, which generates the majority of its income from petrochemicals, posted a 9% on-year decline in consolidated third-quarter net profit to SAR 5.6 million ($1.5m) due to lower average sales prices. This was, however, 19% ahead of EFG Hermes’ forecasts due mainly to lower feedstock costs and strong polymer p…
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Anonymous
Very good overview of the weekly steel market.
Anonymous