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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