Steel Products
Essar Steel Algoma Reports Highest Shipments in 2 Years
Written by Sandy Williams
August 16, 2013
Essar Steel Algoma reported a net loss of 28.7 million for the first quarter of its fiscal year 2014 ending on June 30, 2013, an improvement over its net loss of 92.7 million at the end of the fourth quarter in March.
Sales of $464 million showed an improvement of 4 percent over the previous quarter. Shipments rose by 5 percent to 672,000 tons.
“Shipments of 672,000 tons for the quarter represent the highest volume shipped in the last eight quarters,” said Chief Executive Officer Kalyan Ghosh. “Despite this increase in volume and reduced input costs, these improvements were not sufficient to return us to profitability due to lower steel prices. Fortunately prices have begun to rebound since reaching a two year low in June, and we expect to see an improvement in operating profitability next quarter.”

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products

SMU scrap market survey results now available
SMU’s inaugural ferrous scrap market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past flat-rolled survey results are also available under that selection. If you need help accessing the survey results, or […]

SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members.

US HR prices pulling away from offshore tags
Hot-rolled (HR) coil prices moved up again in the US this week, while tags abroad were largely flat. The result: the margin US hot band holds over imports on a landed basis widened further.

ArcelorMittal to start building Calvert NGO electrical steel line this year
ArcelorMittal announced on Thursday that it will begin the construction of its new $1.2-billion electrical steel mill in Alabama later this year. The steelmaker said it is proceeding with plans to build the new greenfield mill near its existing AM/NS joint venture in Calvert, Ala. The ArcelorMittal Calvert plant will have an annealing pickling line, […]

AISI: US steel shipments rise in December
Domestic steel shipments increased month over month and year on year in December, according to the latest data from the American Iron and Steel Institute (AISI). US steel mills shipped 7,145,016 short tons (st) in December, up 0.9% from 7,082,921 st in December 2023 and 6.6% higher than 6,702,557 st in November 2024. For the full-year […]