Steel Mills

Kloeckner Metals Improvements Boost H1 EBITDA
Written by Sandy Williams
August 9, 2014
Kloeckner Metals Corp. shipments fell by 3.8 percent year-on-year in the first half of 2014, due to the extended winter, consolidation of sites and the reduction of low-margin business. EBITDA improved by 27 percent from €41 million to €52 million ($55 million to $69.7 million), helped by operational improvements and higher-margins.
The company expects US steel demand to increase by 4-5 percent over 2014 due to a strong automotive industry and improving commercial construction.
Parent company Klöckner & Co. SE, headquartered in Germany, reported shipments were up 0.5 percent to 3.4 million tonnes (3.7 million net tons). Sales were down slightly by 2.1 percent to €3.3 billion ($4.4 million) due to a weaker US/Euro exchange rate and lower steel prices in Europe. Net income was €13 million ($17.4 million) compared to a loss of €20 million ($26.8 million) in the same period of 2013.
“After returning to profit in the first quarter, we sustained the upward trend in the second quarter too, despite conditions in Europe remaining difficult,” said Gisbert Rühl, CEO of Klöckner & Co SE. “This shows that the expansion of our activities in the USA and the very comprehensive restructuring measures are already proving increasingly effective.”
Klöckner’s US segment is Kloeckner Metals Corporation, headquartered in Roswell, Georgia. Kloeckner Metals consists of three business segments: Flat Rolled Group, Heavy Carbon Group and Special Products Group. The company also has three divisions: Temtco Steel Division, Kloeckner Metals Processing Division and California Steel & Tube Division.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills

Nucor eyes long-term gains amid strong demand and trade enforcement
Resilient demand across its steel product lines, combined with the continued ramp-up of key expansion projects, drove Nucor’s improved financial results and record-setting performance in the second quarter. That’s according to company executives speaking on an earnings conference call on Tuesday.

Three independent, new directors join USS board
U.S. Steel (USS) appointed three new, independent US members to its board of directors, the company announced.

Nucor reports improved earnings, sales, and operating rates
Nucor reported a sharp sequential rebound in the second quarter, buoyed by improved pricing and strong shipments. But the steelmaker is bracing for a modest slowdown in the months ahead.

Cliffs confirms Cleveland furnace restart, Dearborn furnace idling
Cleveland-Cliffs is idling blast furnace, BOF shop, and continuous caster functions at its Dearborn plant, but downstream operations will remain unaffected, the company confirmed. Cliffs said its pickling line tandeom cold mill (PLTCM) and its extra wide automotive-grade galvanizing line for exposed parts will continue operations at the Dearborn, Michigan-based facility.

Nucor spot HR list price unchanged at $900/ton
Nucor maintained its weekly list price for hot-rolled (HR) coil flat this week, following a price cut the previous week.