03
Jan
13:14
Sabic costs to increase 5% on fuel subsidy cut
Sabic’s annual costs before minority interest are projected to increase 5% from the first quarter as a result of Saudi Arabia’s decision last week to cut fuel subsidies, Kallanish learns from the parent of steelmaker Saudi Iron & Steel Co. (Hadeed).
The move to reduce subsidies comes as one measure to narrow Saudi’s budget deficit in 2016. The price of higher-grade unleaded petrol has risen 50% to to SAR 0.90 ($0.24) per litre. Gas pri…
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Anonymous
Very good overview of the weekly steel market.
Anonymous