Jindal Shadeed strengtens positions in July-September
According to the official statement, Jindal Shadeed sold 480,000 tonnes of steel products during the second Quarter, with a 33% increase in volumes year-on-year. At the same time, the figure decreased on a quartertly basis by 5.9%, but the company increased its revenue over the mentioned period to $226 million.
Stronger sales supported the gradual recovery in steel demand after gloomy spring boosting operating performance. The plant increased production by 24% year-on-year and 41.7% on quarterly base, reaching 510,000 t in July-September.
The Confident second quarter figures translated into positive results for the first half (April 1 – September 30). Jindal Shadeed increased sales by 27% year-on-year to 980,000 tonnes, according to the official information. Steel production also increased by 10% and reached 870,000 tonnes.