05
Aug
14:31
International competition, domestic infrastructure maturity slash Qasco's sales
A recovery in steel prices helped Industries Qatar (IQ) improve its performance on-quarter in the second quarter. In the first half of 2019, however, IQ subsidiary Qatar Steel (Qasco)’s revenue still fell -23% on-year to QAR 2.31 billion ($634.6 million), while gross profit was down -80% to QAR 125m.
Wire rod sales in fact rose 33% in H1 to QAR 158m, but bar sales declined -13% to QAR 1.91 billion and billet sales fell -66% to QAR 247m. Sales in Qatar acco…
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Anonymous
Very good overview of the weekly steel market.
Anonymous