03
Aug
17:36
Hadeed slumps to loss in second quarter
Saudi Iron and Steel Company (Hadeed) reported a -28% on-year decline in revenue in the second quarter to SAR 1.87 billion ($498.7 million). The producer also turned to a SAR 482.5 million net loss versus a SAR 85.5m profit in the year-earlier quarter.
In a note seen by Kallanish Hadeed parent company Sabic attributes the worsening performance to lower selling prices and tonnages. Hadeed was Sabic’s only unit to record a decline in revenue and a net loss i…
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Anonymous
Very good overview of the weekly steel market.
Anonymous