RHI Magnesita reports fall in refractory demand in second quarter of 2020

Austria: RHI Magnesita’s revenue from its cement and lime market fell by 12.1% year-on-year to Euro160m in the first half of 2020 from Euro182m in the same period of 2019. It said that the segment performed well in the first quarter of 2020 as producers maintained and repaired plants. Second quarter performance was negatively affected by coronavirus, “with a sharp contraction in demand in key end-markets, leading to reduced production and some temporary closures of cement plants in certain regions.” The group forecasts that its cement and lime segment will continue to follow the trend of the second quarter of 2020 although government stimulus projects, especially for infrastructure projects, may improve the situation.