OM Holdings June Qtr steel production increases | Finance News Network

OM Holdings June Qtr steel production increases

Company News

by Anna Napoli

Mining company, OM Holdings (ASX:OMH) has reported over 765 thousand tones of ores and alloys were transacted in the June quarter, representing a quarter-on-quarter decrease of 17.5 per cent.

Meantime, world crude steel production for the quarter was 454 million tones, a 6.2 per cent increase compared to the prior corresponding period.

China’s crude steel production increased by 9.1 per cent higher when compared to the same time last year.

Om Holdings says significant surplus operating cash flows during the current quarter facilitated accelerated repayment of loans of US$21.6 million, with the balance of the restructured loans fully repaid in June.

Shares in OM Holdings (ASX:OMH) closed up 0.8 per cent to $1.26 on Friday

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.