Salzgitter sees weak Q1 for trading unit persisting in 2018

摘要

Salzgitter is anticipating a downturn in sales at its international steel trading unit for the full year following a weak first quarter, the German steelmaker said in its first quarter report Tuesday. Salzgitter said the outlook for its strip steel unit is brighter, however, adding that it would be opening an additional hot-dip galvanizing line in 2021. Sales revenues from the company's steel-producing units rose in Q1, largely on the back of higher selling prices, but the international trading unit's revenues were down, particularly hampered by lower volumes of project business contracts and a lack of major orders.