Steel Mills
Kloeckner Metals Margins Hit by Price Declines
Written by Sandy Williams
May 7, 2015
Klöckner & Co SE EBITDA was heavily impacted by the sharp price declines in the U.S. EBITDA of €10 million ($11.2 million) was reported down from €45 million ($50.7 million) in Q1 2014
Shipments for Kloeckner Metals (the Americas segment) were up 0.6 percent y/y to 682,000 tonnes (751,763 tons). US shipments were up by 1.7 percent.
Sales rose 20.8 percent y/y to €672 million ($757 million). Gross margins at Kloeckner Metals were impacted by declining steel prices, slipping 2.8 percentage points to 14.2 percent. EBITDA margin was down 2.7 percentage points to 1.0 percent. EBITDA fell 66.1 percent from €21 million ($23.7 million) in Q1 2014 to just €7 million ($7.9 million) in Q1 2015.
In the business outlook for 2015, real steel demand is expected to rise 1-2 percent in the U.S. with growth in construction, manufacturing, and automotive.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
SMU Community Chat: Algoma’s CEO talks prices, decarb, raw materials
Algoma Steel’s CEO Michael Garcia joined SMU Managing Editor Michael Cowden for a Community Chat on Wednesday, Nov. 29. A great discussion was had on topics ranging from plate pricing to decarbonization efforts, raw materials strategies, and more.
U.S. Steel bids due on Friday: Sources
Bids for U.S. Steel are due on Friday, according to sources familiar with the matter. Friday is also allegedly when a non-disclosure agreement (NDA) between Cleveland-Cliffs Inc. and the Pittsburgh-based steelmaker expires.
Worker dies at Nucor Steel Indiana
A contract worker suffered a fatality on Friday, Nov. 24, at Nucor Steel Indiana’s Crawfordsville sheet mill.
USS idles iron, steelmaking ‘indefinitely’ at Granite City Works
U.S. Steel said it has indefinitely idled steelmaking at its Granite City Works in southern Illinois near St. Louis.
Hybar locks in 16 cranes for new Arkansas mill
Hybar's new rebar mill is set to be outfitted with 16 cranes of various capacities, according to a news release from Finnish crane manufacturer, Konecranes.