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Steel Authority Reports 49 % Yearly Profit Decline
Lower steel prices and rising costs cut the company’s quarterly profit by nearly half, reflecting persistent weakness in the global metals market.
The state-owned steelmaker posted a 49 % year-on-year drop in quarterly profit as weaker pricing and higher input costs weighed on margins. Earnings were affected by reduced global demand and inventory adjustments across major plants. Operational revenue remained largely stable, supported by domestic infrastructure orders. Executives highlighted ongoing cost-optimization measures and modernization projects to improve efficiency. Analysts said the result reflects a sector-wide correction following last year’s commodity-price surge, though recovery prospects hinge on construction spending and export rebound.