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Union Steel issues profit warning for Q3

METAL recycler Union Steel Holdings said on Thursday that it expects to report a net loss for the third quarter and the nine months ended March 31 due to a slowdown in market demand for its steel products.

Further details of the group's financial results will be disclosed when the group finalises and announces its unaudited 3Q2018 and 9M2018 results on or after May 9, the company said in a filing with the Singapore Exchange on Thursday after the market closed.

Union Steel shares last traded on April 18 at S$0.61.

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