Essar Steel Algoma, Ontario-based steel flats producer announced that its net loss of US$25.1 million for the second quarter ended on December 31st, 2012 although the company's shipments increased by 19.6% year on year in the given period of time.
In the given period of time, the company's sales revenues totaled US$457.1 million.
The company stated that the drop was caused by a decrease of 5.8% year on year in pricing even though costs dipped by 12.3%.