Market Segment
April 26, 2022
Written by David Schollaert
Ternium reported net earnings of $877.5 million in the first quarter of 2022, down from $1.14 billion in the prior quarter but up 24.2% from $706.7 million in the first quarter of 2021.
The Latin American flat-rolled steelmaker posted first quarter net sales of $4.30 billion, a 32% compared to the first quarter of last year but down 1% compared to the fourth.
Nucor's consumer spot price for hot-rolled increased by $10/st w/w on Monday, Oct. 5 to $1,230 per short ton.
SSAB Americas aims to increase base plate prices by at least $60 per short ton (st), according to a letter sent to customers on Monday.
Members of the Global Forum on Steel Excess Capacity (GFSEC) met in Wisconsin last week and unveiled an updated plan to combat market-distorting excess capacity. The Milwaukee Framework adds color to the 2017 “Berlin Principles.” It is also a positive step in the ongoing battle against global steel market distortions. However, the Framework is only a guidepost. It must be implemented correctly to make an impact as new problems loom.
As substrate costs continue to rise, Nucor Tubular Products announced a price increase for heavy structural sections (HSS), mechanical, and piling products.
Iron ore shipments from US ports on the Great Lakes slipped in September from a year earlier, according to the Lake Carriers Association (LCA).