Ferrum places various HRC procurement orders

Ferrum has concluded a PLN 6.5 million ($1.7m) deal to buy hot rolled coil from Latvia-headquartered Severstal Distribution,Kallanish learns from the Polish pipemaker.

This brings the total business between the two firms since cooperation began in August 2018 to PLN 36m.

Following a new order from ArcelorMittal Flat Carbon Europe, meanwhile, Ferrum’s HRC sourcing from this supplier since April 2018 has risen to PLN 34.5m.

In late January Ferrum also placed a PLN 38.7m HRC procurement order with Posco Daewoo Corporation. Delivery will take place in March-May.

Ferrum posted a 17.3% on-year increase in January-September 2018 pipe sales to 61,000 tonnes, with revenue from these sales increasing 19.5% to PLN 188.65m, of which 67.9% was from the local market. The remainder was from sales to Germany, Austria, Serbia and Finland, among other nations.

Ferrum commissioned last summer a new spiral-welded pipe mill that it expects will further boost profitability