Dofasco warns of rising costs, price slippage

Oct 29, 2004 | 08:41 AM |

After peering into its crystal ball for the fourth quarter, Dofasco Inc., Hamilton, Ontario, sees strong results for its steel operations and its Gallatin Steel Co. joint venture. However, rising raw material costs mean that its performance in the fourth quarter might not be as strong as the third quarter, the company said.

"I think Dofasco is well positioned for the future," Don Pether, the company's president and chief executive officer, said. "We expect a strong fourth quarter, but not a recurrence of the third quarter. Our steel operations will be strong, but we anticipate lower results because of the higher costs of scrap and purchased slabs. We expect the same at Gallatin, where we expect to see higher scrap costs and the easing of some spot market selling prices."....

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