It’s reported that Allegheny Technologies Inc (ATI) posted operating profits of US$9.4 million for the fourth quarter of last year, slumping from US$17.4 million in the same period of a year ago.
In the given period of time, the total sales amounted to US$495.6 million, falling by 17.2% year on year.
The selling prices of stainless steel dropped by around 14% in the given period due to lower surcharges and base prices even though the volumes rose by 28%.
ATI said that the selling prices for most stainless steel products touched the history low and the demand was sluggish from all markets in the fourth quarter of last year.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=62740&division=A1
