Advanced Metallurgical Group (AMG) reported a 53% year-on-year drop in second-quarter earnings before interest, tax, depreciation and amortization (ebitda) because of declines in vanadium and chrome prices.
The Amsterdam-listed group's ebitda came in at $23.8 million, a drop from $50.7 million in the second quarter of 2018.It attributed the drop in ebitda mainly to the group's critical materials business, which reported ebitda of $12.4 million in the second quarter. "That drop is almost entirely explained by prices of ferro-vanadium,...