SSAB Posted Net Loss of US$100 Million for The Third Quarter of This Year_Market_News

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SSAB Posted Net Loss of US$100 Million for The Third Quarter of This Year

Release date:2016-11-30 Views:86

Core Tip: Swedish steelmaker SSAB posted net loss of US$100 million for the third quarter of this year, falling from a profit of US$76.5 million in the same period of last year. The

Swedish steelmaker SSAB posted net loss of US$100 million for the third quarter of this year, falling from a profit of US$76.5 million in the same period of last year.

The company said weak demand and price pressure in the marketplace caused the fall of profit.

Martin Lindqvist, the CEO of the SSAB said in a statement that they do not anticipate any major change in demand during the fourth quarter and the pressure on prices for standard steels that they witnessed during the fourth quarter is expected to continue.

However, he also expected that the price for the quenched steels will be more stable.

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SSAB Posted Net Loss of US$100 Million for The Third Quarter of This Year