Steel Mills
NLMK USA Results Down in Q3
Written by Sandy Williams
October 24, 2019
NLMK USA noted weaker demand in the pipe manufacturing and construction segments in its third-quarter earnings report. Prices dropped 13 percent from the second quarter and shipments declined 6 percent to 550,000 metric tons, resulting in a loss for the company.
Revenue for the segment fell 18 percent from the second quarter to $391 million. EBITDA decreased to a loss of $33 million due to a decline in prices of finished rolled products and the accumulation of high-value slab inventory.
NLMK expects seasonally slow demand in the U.S. to restrain significant steel price moves in the coming quarter, but lower scrap prices could improve margins.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Nucor holds HR list price at $910/ton
Nucor is keeping its list price for spot hot-rolled coil unchanged after last week’s shortened holiday week.
Cliffs unveils new hydrogen-powered stainless line in Ohio
CEO Lourenco Goncalves, flanked by state leaders and union reps, touted the project as proof that US manufacturing is not only alive, but also advancing.
Cliffs idles Steelton, Riverdale, and Conshohocken operations
Cliffs has idled facilities in Riverdale, Ill., and Conshohocken and Steelton, Pa.
Radius loss narrows, volumes climb in ‘healthy’ West Coast market
Stronger steel demand in the Western US, rising scrap flows, and improved rolling mill utilization drove sequential gains for Portland, Ore.-based Radius Recycling.
AISI: Raw steel production backs off multi-year high
US raw steel output edged lower last week after hitting a multi-year high in mid-June, according to the American Iron and Steel Institute (AISI).