18
Mar
04:41
Krakatau Steel promises expanded capex for HRC start-up
Indonesia’s Krakatau Steel has said it will boost its capex sending by around 70% to $387 million in 2016 as it begins construction of its hot strip mill (HSM) project. The company is still spending far less than it had originally intended in 2015 however, as continuing losses have hamstrung its budget, Kallanish notes.
Krakatau spent $227m in 2015, despite budgeting $551m for capex that year. One major reason for this was the delay of its $428m HSM projec…
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Anonymous
Very good overview of the weekly steel market.
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