Steel Mills
Canadian Service Center Shipments and Inventories Down in April
Written by Brett Linton
May 16, 2014
Canadian steel service center shipments for all steel products during the month of April were 496,300 net tons, a decrease of 0.7 percent from the month before, and a decrease of 5.6 percent from April 2013. Inventories at the end of the month stood at 1,431,800 tons, a decrease of 2.7 percent from last month, and a decrease of 11.7 percent from the same month one year ago. The daily average receipt rate for April was 21,682 tons (21 day month), down from 27,404 tons the prior month (21 day month as well). Total April receipts were 120,400 tons lower than March. According to the Metal Service Center Institute, total months on hand stood at 2.9 months unadjusted or 3.1 months on a seasonally adjusted (SA) basis.
Flat Rolled
Canadian shipments of flat rolled products for the month of April were 265,000 tons, an increase of 5.0 percent from the month before, but a decrease of 2.9 percent from the same month one year ago. Inventories at the end of the month were 747,000 tons, an increase of 0.9 percent from last month, but a decrease of 22.2 percent from the same month one year ago. The daily receipt rate for April was 12,914 tons, up from 11,220 tons the month before. Total tonnage received was 271,600, up from 236,000 the month before. Flat rolled inventories stood at 2.8 months unadjusted or 3.0 months on a SA basis.
Plate
Canadian shipments for plate products in the month of April were 85,200 tons, a decrease of 15.1 percent from the month before, and a decrease of 13.7 percent from April 2013. Inventories at the end of the month were 266,600 tons, a decrease of 15.6 percent from last month, and a decrease of 4.1 percent from the same month one year ago. The daily average receipt rate for April was 1,716 tons, down significantly from 7,403 tons the month before. Plate inventories stood at 3.1 months unadjusted or 3.2 months on a SA basis.
Pipe and Tube
Canadian shipments for pipe and tube products in the month of April were 53,200 tons, an increase of 1.3 percent from the month before, but a decrease of 9.1 percent from the same month last year. Inventories at the end of the month were 140,600 tons, an increase of 3.1 percent from last month, and an increase of 8.4 percent from the same month one year ago. The daily average receipt rate for April was 2,729 tons, up from 2,696 tons the month before. Pipe and tube inventories stood at 2.6 months unadjusted or 2.8 months on a SA basis.
Brett Linton
Read more from Brett LintonLatest in Steel Mills
Cliffs steadfast in commitment to Middletown decarb project
Cleveland-Cliffs Inc. on Monday reiterated its commitment to a major decarbonization project at its Middletown Works in Ohio, despite an earlier report suggesting otherwise.
Nucor expects lower steel prices to drive Q3 earnings decline
Nucor blamed lower steel prices for weaker third-quarter results in earnings guidance released on Tuesday.
SDI guides toward lower Q3 earnings on weaker flat-rolled steel prices
Steel Dynamics Inc. (SDI) expects lower third-quarter earnings on the heels of “meaningfully lower” prices at its flat-rolled steel operations. The Fort Wayne, Ind.-based steelmaker expects Q3’24 earnings of $1.94 to $1.98 per diluted share, according to figures released on Monday. That’s down from $2.72 per share in Q2’24 and down from $3.47 per share in Q3’23.
Stelco shareholders OK $2.5B sale to Cliffs
Stelco shareholders voted overwhelmingly on Monday to OK the $2.5-billion sale of the Canadian flat-rolled steelmaker to Cleveland-Cliffs. Indeed, 99.97% of those who cast ballots voted to approve the deal, according the Hamilton, Ontario-based steelmaker.
White House may delay decision on USS-Nippon deal until after election: report
The White House decision on blocking Nippon Steel’s play for Pittsburgh-based U.S. Steel might be pushed back until after the upcoming presidential election, according to a report in the Washington Post.