01
Feb
11:05
Hadeed loss deepens despite fourth-quarter recovery
Saudi Iron & Steel Company (Hadeed) saw revenue rise 8% on-quarter in the fourth quarter of 2020 to SAR 2.35 billion ($626.7 million). This was driven by an 18% increase in average sales price but was partially offset by a -10% drop in sales volumes. This figure was nevertheless down -7% on Q4 2019.
Loss from operations in Q4 narrowed 28% on-quarter to SAR 320m, which was also a 54% improvement on the year-earlier quarter.
Full-year 2020 revenue dropped -17% …
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Anonymous
Very good overview of the weekly steel market.
Anonymous