Weak markets hit Magnesita's Q3 as earnings improve

By Davide Ghilotti
Published: Monday, 14 November 2016

The company, which is in the process of merging with European refractory maker RHI, was affected by a downturn in steel output in its main exporting markets, while earnings improved against last year.

Brazilian refractory producer Magnesita Refratários SA reported a challenging third quarter on the back of declining steel production and a weak domestic cement sector, which hit sales volumes and turnover.

Following a return to profitability in the previous quarter, low steel and cement production in Q3 exposed the company to further...

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