01 May Bad news for Siderar
Last Tuesday the steel company Siderar provided comparative data by a note to the Stock Exchange of Buenos Aires and specified the profits of the company: only 640.2 million pesos in the first quarter, which are 43.5 millions of dollars.
When we compared with Reuters seasonal, that was not expected because it was below the predictions of 900 million pesos. Besides taking into account the report of the previous year when the company had earned 703,1 million, the actual result is a loss of 8.9%.
The actions of steel have a weighting in the Merval index of the Stock Exchange of Buenos Aires of 6.03%.