A summary of the financial results for Egypt's biggest steelmaking group, Ezz Steel, for the period from January 1 to March 31, 2020.
In briefEarnings were down because "the negative effect of Covid-19 damped the positive volume trend [seen by Ezz Steel] at the beginning of the first quarter of 2020... Export quantities suffered the most," according to Paul Chekaiban, chairman and managing director of Ezz Steel."Contraction in [gross domestic product] worldwide took its toll on consumption, and... finished product prices [also suffered]. In...