18
Jan
10:13
Hadeed Q4 loss nears $300m on price decline
A sharp decline in sales prices saw Saudi Iron & Steel Co. (Hadeed) record a net loss of SAR 1.1 billion ($293.3 million) in the fourth quarter of 2015, despite the reduction in cost of sales, Kallanish learns from parent company Sabic.
This contributed to a -29% year-on-year reduction in Sabic’s consolidated net profit in Q4 to SAR 3.08 billion. This was also -45% down on the previous quarter.
Sabic’s net profit in full-year 2015 declined -19…
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Anonymous
Very good overview of the weekly steel market.
Anonymous