Magnesita's losses worsen in Q1
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
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,