Weak markets hit Magnesita's Q3 as earnings improve
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