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Siderar posts 1Q loss of $90 million

Siderar posts 1Q loss of $90 million

Argentine steel maker Siderar is reporting a second straight quarterly loss on falling global demand for steel.
Siderar SA is posting a 337 million peso ($90 million) net loss for the January to March period, down from a 566 million peso profit in the same 2008 period.
The company last year posted a 388 million peso net loss for the fourth quarter _ its first net loss in nearly seven years.
Siderar, a unit of Luxembourg-based Ternium SA, blamed the drop Monday on stymied activity in the construction and automotive industries.


Updated : 2021-06-22 04:37 GMT+08:00