The Swedish state mining company LKAB reports a profit before tax for the second quarter of SEK 1.3 billion. This compares with the profit of 1.2 billion, corresponding to 2017.
Higher returns on financial investments contributed to the increase in profits. However, operating profit fell by 19 percent, mainly due to the provisions for social transformation, according to LKAB.
Sales rose from 5.7 to 6.2 billion Swedish crowns.
- LKAB estimates that the over-supply situation in iron ore fines will continue, which puts pressure on iron ore prices, while the premium for highly refined iron ore products is still expected to be high," the company writes about future prospects.
