The steelmaker Essar Steel Algoma has just reported a US$92.7-million loss for the fourth quarter of fiscal year 2013, which is much bigger than US$18 million loss for the fourth quarter of a year ag. In the report, the steelmaker's quarter sales reached US$447.7 million and shipment reached 638,652 tons, down by 1.5% year-on-year. Essar said the loss was primarily a result of lower volumes and selling prices as well as higher cost and un-recognized tax.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=64958&division=A6
