Magnesita's losses worsen in Q1

By Davide Ghilotti
Published: Monday, 16 May 2016

The refractory manufacturer saw a decrease in sales, profits and net income in the first quarter of the year amid persistent weak conditions in steelmaking, as it seeks to contain costs and limit spending.

Dead burned magnesia (DBM) accounted for only 7% of industrial mineral sales in Q1.

Brazilian refractory minerals producer Magnesita Refratários SA recorded a negative performance across its three divisions in Q1, prompted by persistent weakness in the steel industry.

This affected revenues, which were 17% lower year-on-year, falling to...

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