Steel Products Prices North America
GE Off to Strong Start in Q1
Written by Sandy Williams
April 17, 2014
General Electric reported today that the beginning of 2014 is off to a good start. Profits from its industrial segment rose 12 percent to $3.3 billion in the first quarter of 2014. Double digit growth was seen in five of its nine growth regions. Infrastructure orders were valued at $23.7 billion, flat with the same period in 2013.
Revenue was down 3 percent for the appliances and lighting segment, at 1.857 billion. Appliances revenue fell 3 percent and was attributed to weather-related pressure.
Transportation revenue was down 14 percent to 1.227 billion but showed strength in orders for North America locomotives and kits for South Africa. Transnet placed an order valued at $0.7 billion for 233 Evolution series locomotives. Revenue for mining off-highway vehicles fell 76 percent and transportation equipment revenue was down 20 percent.
Aviation revenue grew 14 percent driven by higher engine shipments. During the quarter GE received an order from AirFrance-KLM for 37 FEnx engines, valued at $1.7 billion, for Boeing 787.
Revenue for equipment in power & water and oil & gas rose 41 percent each, offsetting declines in other segments for a total increase in equipment revenue of 12 percent.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products Prices North America
CRU: Longs pricing trends diverge in North, South America
Most longs prices in the US were unchanged this month, except for rebar, which declined by $1.50/cwt ($30/short ton) m/m. While end-use demand is stable, inventories are well-stocked, keeping purchases limited. Domestic availability is sufficient to meet current demand, hindering the appetite for imported material. Meanwhile, prices for scrap remained under pressure in June, with […]
Nucor cuts plate prices by $125/ton, cites ongoing competition
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its August order book.
Nucor cuts HR price for fourth straight week
Nucor lowered its consumer spot price (CSP) for hot-rolled (HR) coil by another $10 per short ton (st) for the first week of July. The steelmaker said in a letter to customers on Monday that its CSP base price for the week will be $670/st for all of its sheet mills with the exception of California Steel Industries (CSI).
Cliffs sets $720/ton HR price with opening of August books
Cleveland-Cliffs on Tuesday announced its monthly hot-rolled (HR) coil price of $720 per short ton (st) with the official opening of its August order book. The rate is down from last month’s price of $800/st.
CRU: Demand weakness continues to weigh on global sheet markets
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]