Steel Mills
NLMK Q2 Trading Update
Written by Sandy Williams
July 13, 2018
Sales by NLMK’s U.S. mills grew 15 percent to 638,000 metric tons in the second quarter of 2018 compared to the first, triggered by trade restrictions, said the company in a trade update on Friday.
NLMK USA sales included 369,000 metric tons of hot-rolled steel, 129,000 tons of cold-rolled, and 139,000 ton of galvanized steel.
Steel product pricing was up 10-15 percent quarter-over-quarter due to growing demand from the automotive and construction sectors, as well as steel import restraints.
Slab sales to its foreign subsidiaries, NLMK USA and NLMK Dansteel, decreased 30 percent quarter over quarter to 458,000 metric tons.
NLMK Group sales totaled 4.38 million metric tons, an increase of 6.0 percent quarter-over-quarter and 4.0 percent year-over-year, due to growth of flat steel sales in Russia and the U.S.
Group capacity utilization rate was at 99 percent during the quarter. Total steel output grew 1.0 percent to 4.38 million metric tons.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Cliffs plans to idle three mills, cut 950 jobs on ‘insufficient demand and pricing’
Cleveland-Cliffs plans to indefinitely idle its steel mill in Riverdale, Ill., as well as mills in Conshohocken, Pa., and Steelton, Pa. The Cleveland-based steelmaker said all three facilities would be idled on or around June 30. Approximately 950 jobs will be impacted, the company said.
CRU: Usiminas may reduce capex unless government strengthens protection
“The lack of effective measures to create fair competition, amid a surge in subsidized imports, is the main threat to the sustainability of Brazil’s steel industry and its value chain,” CEO Marcelo Chara said.
USS swings to loss in first quarter on N. American flat-rolled segment woes
U.S. Steel CEO praised the company’s resilience, “despite the seasonally low results driven by annual mining logistics constraints in our North American Flat-Rolled segment and lagging spot prices.”
Nucor gives updates on new capacity coming online
Nucor said several of its capital projects will start operations within the next year and provided an update on them.
Algoma swings to loss on ‘market challenges’ and ‘tariff uncertainties’
Canada’s Algoma Steel swung to a loss in the first quarter amid "market challenges," and the company now expects first steel production from its first EAF in the second quarter.