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Slow steel market docks $9m from Martin Marietta’s magnesia business

By Laura Syrett
Published: Tuesday, 09 February 2016

The company said little about its speciality magnesia arm, which was one of its worst performing divisions last year thanks to softness in the steel sector, while broader strong economic activity in the US bolstered its aggregates businesses.

A 7% drop in North American steel capacity utilisation dragged sales of speciality magnesia for Martin Marietta Materials Inc. down by $9m, or 4%, last year, the company said today.

The US aggregates producer said that steel plants in the region are now operating at just 71% of capacity, down from 78%...

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