12
Aug
11:25
Qatar Steel sees reduced associates' earnings, Solb halts production
Qatar Steel’s share of revenue from Foulath, in which it owns a 25% stake, fell -34% on-year in the first half of 2020 to QAR 559 million ($153.6m), with share of net profit down to QAR 5.9m from QAR 81.2m a year earlier.
Qatar Steel’s investment in Saudi long steelmaker Solb Steel, in which it owns a 31.03% stake, was fully impaired in December 2018 and has since been held at a carrying amount of zero. Its share in Solb’s results is thus zero.
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Anonymous
Very good overview of the weekly steel market.
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