23
Feb
15:29
Sabic steel sales decline 20% in 2015
Saudi Iron and Steel Company (Hadeed) reported a -20% on-year decline in sales in 2015 to SAR 10.67 billion ($2.85 billion), Kallanish learns from parent company Sabic.
Hadeed sunk to a net loss in 2015 of SAR 1.46 billion, due to a sharp reduction in steel prices, compared to a SAR 1.35 billion net profit in 2014. This contributed to a -19.6% on-year reduction in Sabic’s consolidated net profit in 2015 to SAR 18.78 billion.
Sabic investment planning ma…
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Anonymous
Very good overview of the weekly steel market.
Anonymous