Product
August 13, 2013
Written by John Packard
Written by Sandy Williams
Caterpillar Inc. reported second quarter sales and revenues of $14.621 billion, down 15.8 percent from $17.374 billion in the second quarter of 2012. Net profit plunged 43 percent to $960 million in the second quarter of 2013, from $1.699 billion in the second quarter of 2012.
There has been an upsurge in Turkish deep-sea scrap buying over the last week for December shipment. Prices paid increased but not as much as the trade expected.cDuring the last week, Turkey-based steelmakers bought at least seven cargoes, largely from the UK and Northern European suppliers, while virtually shunning higher priced US scrap. The initial wave of sales of HMS 80/20 ranged from $395-$398.50 per metric ton (mt) on a CFR basis.
Algoma Steel has secured a contract to supply up to 24,000 metric tons of structural steel plate for Seaspan Shipyards’ Canadian Coast Guard icebreaker program. The agreement, valued at about $182 million Canadian, covers steel for up to six multi-purpose icebreakers, at ~4,000 metric tons per vessel. Algoma will produce the plate, with Stigterstaal Canada serving as the marine steel processing and distribution partner. The order is the largest polar-class steel order in Algoma’s history, according to the companies.
The US Department of Commerce recently made adjustments to the anti-dumping duties (AD) on certain steel pipe and tube imports after annual administrative reviews, according to notices in the Federal Register.
After an annual administrative review, the US Department of Commerce is adjusting the countervailing duties (CVDs) on imports of cut-to-length carbon-quality steel plate from South Korea.
Ternium SA expects a modest seasonal decline in consolidated steel shipments in the fourth quarter, but sees Mexico revenue per ton continuing to rise with North American steel price trends. The outlook came as the company released its third-quarter earnings report and prepares to start steel shop production at its new Pesqueria slab mill in February. “We are seeing a strong demand in Mexico … strong demand in the US,” CEO Maximo Vedoya said on a conference call on Wednesday to discuss the quarterly earnings. Ternium reported Q3’26 net income of $368 million, compared with $465 million in Q2’26 and a $270-million loss in Q3’25.