Malaysian steel plate makers have slightly longer advantage
Malaysian long products maker Southern Steel and Masteel announced that in the third quarter by the end of September, their revenues had fallen by 30% year-on-year. The main reasons were falling prices and declining sales. However, the situation for steel plate re-rollers continued improving.
In the third quarter of this year, the revenue of Malaysian plate maker Sinosteel increased by 5.1% year-on-year. Domestic sales were rising, raw material cost conditions were favorable, and production costs were lowered, affected by the increase in capacity utilization.
These three main factors have led to an increase in profits. Total sales during the July-September period this year increased by 12% year-on-year.
