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
Nucor lowers 2024 output estimate for Brandenburg plate mill
Nucor has lowered the 2024 production estimate for its Brandenburg, Ky., plate mill due to soft market conditions.
SSAB adjusts output in weak Q3, readies for Q4 rebound
SSAB said lower plate prices in the US were the primary reason for reduced results in the second quarter. With a dismal Q3 outlook, the Swedish steelmaker is adjusting production across its facilities. That includes moving up its annual US mill outage in anticipation of a better Q4. SSAB Americas Revenues in the Americas segment […]
Topalian puts focus on “unfair” trade, eyes USMCA partners
Nucor’s top executive expressed concerns over unfair trade practices, highlighting increased steel imports from Mexico and Canada.
Cliffs sees close of Stelco buy, bottom to steel tags, and Mexico out of USMCA
Cleveland-Cliffs expects its acquisition of Canada’s Stelco to close later this year, which will help the the Cleveland-based steelmaker as a bottom to steel tags nears.
Nucor posts lower Q2 earnings, predicts tough Q3 too
Nucor recording lower second quarter earnings on falling steel prices. And the Charlotte, N.C.-based predicted that profits would be lower still in the third quarter, primarily because of weaker results from its steel mills divisions.