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SSAB posts 44% profit down for Q2 on weak steel market
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Sweden steelmaker SSAB has reported a profit of US$70 million for the second quarter of this year, falling by 44% in comparison of that in the same period of a year earlier.
The company said the main reasons for the profit drop were the uncertain economy in Europe and weakened US recovery, which affected steel demand and profit space negatively.
Meanwhile, SSAB expected that the global steel demand to increase for 2012, though forecasts have been gradually revised downwards.
News Date
7/27/2012 11:06:12 AM
reported by
Brian Lu
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