N.Z. Steel suffers lower sales

Press, 9 April 1980, Page 21

N.Z. Steel suffers lower sales

New Zealand Steel, Ltd,, may be hard pressed to re-j peat last year’s record pro-! fit judging by the latest' production and sales figures for the company in the year, to March 31, 1980.

The figures show a 5.8 per cent fall in sales of ironsand concentrate, and sales falls for some of the company’s other products. The latest, figures show ironsand concentrate sales

fell from 1,946.000 tonnes to

1,832,000. though steel , billet sales rose 6.5 per cent from 125,000 to 133.000. Processed hot rolled coil sales were down 18.2 per cent from 22,000 to 18,000 tonnes while pipe and rectangular hollow section sales rose 18 per cent from 33,000 tonnes to 39,000 tonnes.

Galvanised flat product sales rose 6.4 per cent from 147,000 to 136,000 tonnes. However, the production

(figures show the company 1 [has, overall, operated at higher capacity than last; [year. Iron production rose 11 .per cent from 127,000 to (141,000 tonnes, while steel

(billets were up 3.9 per cent (from 129.000 to 134.000 [tonnes. Hot rolled plate (showed the only production: ifalL being down" 10 per cent (from 20,000 tonnes to 18,000! (tonnes. : Pipe and rectangular hoi-; low section production rose! 17.6 per cent from 34,000 to, 40.000 tonnes, while galva-l nised flat products were! steady at 137,000 tonnes. The. directors noted at the end of the 1979 financial year that domestic demand was at reduced levels andj ithat, w’hile export markets! were stronger, there was; [considerable pressure from; higher energy and raw mat-! I erial costs. !