Steel Mills

SSAB Americas Improve Results in Q2
Written by Sandy Williams
July 23, 2016
SSAB Americas results in improve in second quarter due to higher volumes and prices. Sales were SEK 2.8 billion ($323 million) compared to SEK 2.4 billion ($277 million) in first quarter. Shipments improved 11 percent to 526,000 tonnes from 475,000 tonnes in Q1.
The company reports good demand from steel service centers and the wind tower segment during the quarter.
SSAB expects demand for heavy plate in North America to be somewhat lower due to normal seasonal slowdown in third quarter. A planned maintenance outage at SSAB America’s Montpelier facility has been moved from the beginning of fourth quarter to the end of third quarter to take advantage of a seasonal weakness.
In its outlook for key customer segments, SSAB expects railcar production in the US to continue a steady decline along with a slowing in the truck industry. Automotive production is expected to remain high. Construction machinery and oil related segments are expected to remain slow. Mining equipment may have a slight pick-up due to replacement investments. Demand for wind energy products is expected to remain high.
Service center inventories in the U.S. are perceived as normal while firms remain in a wait-and-see mode.
Consolidated results for SSAB were SEK 14.4 billion ($1.6 billion). EBITDA was SEK 1.6 billion ($185 million), up from SEK 1.2 billion in Q2 2015 and SEK 744 million in first quarter 2016.
SSAB attributed improved results to higher shipments and prices, positive synergy, and better capacity utilization.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills

Higher sheet and plate prices to bolster Nucor’s Q2 earnings
Higher prices are boosting the performance of Nucor’s steel mills segment in the current quarter, the company said on Wednesday.

SDI anticipates stronger sequential earnings
Steel Dynamics Inc. (SDI) expects stronger second-quarter sequential earnings when it releases its full earnings report on Monday, July 21st.

Nippon/USS finalize ‘partnership,’ including US government ‘Golden Share’
Nippon Steel and USS have finalized their "partnership" in a deal first announced in December 2023.

Trump approves Nippon-U.S. Steel deal, USW cries foul
President Trump has approved the sale of U.S. Steel to Nippon Steel, according to an executive order signed on Friday, June 13. Both the Pittsburgh-based steelmaker and the Japanese steelmaker cheered the development.

Nippon exec responds after Trump ‘golden share’ comments: Report
A Nippon executive has hit back regarding the deal for USS following President Trump's talk of a "golden share" on Thursday.