Iron and Steel

HOSCO: 80 Percent Growth from Product Sales

HOSCO: 80 Percent Growth from Product Sales
Mining News Pro - Hormozgan Steel Company sold more than $510.9 million of products last month which had 182 of growth compared to the same period last year. Also, the company had 52 of sale boom since December.

According to Mining News Pro - The sales growth is due to rate increase of the products.

During the last 10 months of 2019, Hormozgan Steel Company has established a capital of $1.9 billion.

Steel sales of HOSCO in October, November and December is respectively $40.2 million, $41.7 million and $33.2 million. Nine months profit based on new capital had a good trend. Although the global prices made an impact on trades.

By 47% increase compared with November, HOSCO sold 171 thousand tons of slab in December. The average sales rate of this product grew by 4.5%.

In the last 10 months, Hormozgan Steel produced more than 1,219,000 tons of slab. 298,000 tons of this products has been sold.

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