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28 Oct
07:24

Sabic steel sales fall 18% in nine months

Saudi Iron and Steel Company (Hadeed) reported an -18% on-year decline in sales in the first nine months of 2015 to SAR 8.52 billion ($2.27 billion). The firm also sunk to a loss of SAR 330 million from a net profit of SAR 920.9m in the year-earlier period, Kallanish learns from parent company Sabic. Last month Hadeed lowered its rebar prices to the domestic market by SAR 200/tonne in order to discourage buyers from procuring Turkey-origin rebar (see Kallanish 9…
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