12
Oct
13:35
Steel price decline pulls down Klöckner profit
Exceptionally steep steel price declines and an actively enforced inventory reduction have left the third quarter results of Klöckner & Co far below expectations, Kallanish hears from the German-based distribution group.
The operating income (Ebitda) of €16 million ($15.5m) remained short of the previous forecast range of €50-100m due to an unforeseen inventory write-down at the end of the quarter, Klöckner states. The group has thus revise…
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Anonymous
Very good overview of the weekly steel market.
Anonymous