Essar Steel Algoma posts 4th straight loss
Feb 14, 2013 | 03:16 PM
| Catherine Ngai
Tags
Essar Steel Algoma,
Kalyan Ghosh,
flat steel,
earnings report,
Sault Ste. Marie,
Catherine Ngai
NEW YORK — Essar Steel Algoma Inc. posted its fourth consecutive quarterly loss on the back of a "lackluster" market and lower average sales prices.
The Sault Ste. Marie, Ontario-based flat-rolled steel producer posted a net loss of Canadian $25.1 million ($25.07 million) in its fiscal third quarter ended Dec. 31 compared with a C$50.8-million loss in the same period a year earlier on sales that fell 6.1 percent to C$475.1 million ($474.56 million).....
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