European base metals recycler, Befesa continues to make progress on two steel dust recycling electric-arc furnaces in China, with the first one to be commissioned in Q1 2021.
The company recorded a steel dust throughput of 161,000mt in Q3 2020, down 6pc over the prior year while aluminum salt slags volumes also declined by 6pc to 103,000mt in the same period. The shortfall was attributed to the effects of the COVID-19 pandemic.
However, Befesa’s secondary aluminum production increased by 14pc on an annual basis in Q3 to 44,000mt, aided by a rebound in demand from the automotive sector and an upgrade carried out at the company’s plant in Barcelona.
Across both segments, capacity utilization stood at 80pc during the third quarter. The company realized an average price of €1,997/mt and €1,312/mt for zinc and aluminum, respectively, over the quarter.
For Q3 2020, the company’s revenue amounted to €145.2mn ($170mn), down 1.6pc from the prior-year period. Befesa posted an EBITDA of €37mn in this period, short by 20.8pc from Q3 2019. However, the firm noted that EBITDA grew by 35pc from the preceding quarter, on better aluminum and zinc prices. Befesa expects Q4 to deliver higher margins than Q3, continuing with the recovery trend.