09
Feb
13:14
Sail deliveries rise but imports erode profit
Steel Authority of India (Sail) reported an increase in shipments of 6% on-year in the quarter through December (FQ3) to 2.91 million tonnes. However, the firm sank to an INR 1,529 crore ($224.8 million) net loss from an INR 579 crore profit in the year-earlier quarter.
The decline in profitability was due primarily to a -20% reduction in net sales to INR 8,805 crore as result of a “… huge surge in imports of low-priced steel,” Sail says in a …
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Anonymous
Very good overview of the weekly steel market.
Anonymous