Steel Mills
February 17, 2015
Essar Steel Algoma Returns to Profitability in Q3
Written by Sandy Williams
Essar Steel Algoma announced a return to profitability with a net income of CDN$26.8 million for the third quarter ending December 31, 2014, after reporting a net loss of CDN 38.6 million for the same period of 2013.
Steel shipments for the quarter increased 4.7 percent year over year to 618,538 tons. Average realized sales returns were up 15.8 percent. Higher shipment volumes along with higher selling prices and lower costs strengthened results for the quarter.
