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Stelco reports earnings down 74% in Q3 due to lower steel prices, inflation

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Company says its revenue decrease was primarily due to a 36 per cent decline in average selling price per net ton

HAMILTON — Stelco Holdings Inc. says its net earnings for the third quarter ended Sept. 30 were down by almost 74 per cent year-over-year to $158 million, or $2.33 per diluted share.

The company’s revenue was $217 million for the quarter, down 38 per cent from last year and down 18 per cent from the second quarter.

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