Steel Mills

Kloeckner Looks Forward to US Manufacturing Growth
Written by Sandy Williams
November 10, 2013
Kloeckner Americas reported sales of €594 million ($793 million) during the third quarter, down 14.9 percent from a year ago. Third quarter EBITDA of €20 million ($26.7 million) was up 67 percent from €12 million in 2012 and was unchanged from second quarter 2013. The US segment accounted for 38 percent of Kloeckner & Co. sales while Brazil sales accounted for 1.0 percent.
Turnover for third quarter was down 4.2 percent year-over-year, at 714 million tonnes vs. 746 million tonnes.
For the first nine months of the year, EBITDA in the Americas segment, before restructuring expenses, was €60 million ($80.1 million), down slightly from €64 million ($85.5 million) in 2012 due to consolidation measures and lower steel prices in the first half of the year.
Inventory turnover for the segment declined by 3.7 percent in the first three quarters and 2.6 percent in the USA.
Kloeckner expects sales growth in the US due to a recovering manufacturing sector driven by low energy and labor costs.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills

BREAKING NEWS: Cliffs plans to idle three mills, cut 950 jobs on ‘insufficient demand and pricing’
Cleveland-Cliffs plans to indefinitely idle its steel mill in Riverdale, Ill., as well as mills in Conshohocken, Pa., and Steelton, Pa. The Cleveland-based steelmaker said all three facilities would be idled on or around June 30. Approximately 950 jobs will be impacted, the company said.

CRU: Usiminas may reduce capex unless government strengthens protection
“The lack of effective measures to create fair competition, amid a surge in subsidized imports, is the main threat to the sustainability of Brazil’s steel industry and its value chain,” CEO Marcelo Chara said.

USS swings to loss in first quarter on N. American flat-rolled segment woes
U.S. Steel CEO praised the company’s resilience, “despite the seasonally low results driven by annual mining logistics constraints in our North American Flat-Rolled segment and lagging spot prices.”

Nucor gives updates on new capacity coming online
Nucor said several of its capital projects will start operations within the next year and provided an update on them.

Algoma swings to loss on ‘market challenges’ and ‘tariff uncertainties’
Canada’s Algoma Steel swung to a loss in the first quarter amid "market challenges," and the company now expects first steel production from its first EAF in the second quarter.