Steel Mills
SunCoke Energy Performs Well in Q2 on Strong Commodity Markets
Written by Laura Miller
August 2, 2022
Despite lower domestic coke sales in the second quarter, SunCoke Energy is seeing favorable export coke pricing and is increasing its earnings guidance for the year as a result.
“Our domestic coke and logistics segments continued to perform well in the second quarter with the backdrop of strong commodity markets. Although our coke production was impacted due to planned outages this quarter, it was more than offset by higher margins from our export coke sales,” commented president and CEO Mike Rippey in the company’s Q2 earnings report.
SunCoke’s Q2 net income of $18 million was a significant increase from the loss of $8.8 million it incurred in Q2 2021. Q2 revenues of $501.9 million were up 38% year-on-year.
The company’s domestic coke operations shipped just over 1.007 million tons in Q2—a decline of 56,000 tons from the year-ago quarter. The segment is made up of coke-making facilities and heat recovery operations in Jewell, Va.; East Chicago, Ind.; Franklin Furnace, Ohio; Middletown, Ohio; and Granite City, Ill.
For the full year, SunCoke now expects to produce 4.1 million tons of coke domestically and thinks it will continue to see higher export margins.
SunCoke plans to add pig iron production to its raw materials portfolio in the coming years. During Q2, the company entered into a non-binding letter of intent with US Steel to acquire the steelmaker’s Granit City blast furnaces and to build a 2-million-tons-per-year pig iron facility. Permitting and construction of the pig iron plant is expected to take approximately two years.
By Laura Miller, Laura@SteelMarketUpdate.com
Laura Miller
Read more from Laura MillerLatest in Steel Mills
Atlas completes Evraz NA deal, renames firm, and hires former USS exec as CEO
Atlas Holdings has completed its acquisition of Evraz North America (Evraz NA) and its subsidiaries.
ArcelorMittal: As tariffs slow global growth, Calvert could be a bright spot
ArcelorMittal expects less demand growth across most of the markets it operates in, including the US, because of President Donald Trump’s tariffs. But the Luxembourg-based steelmaker also thinks it stands to benefit from an increasingly regionalized world thanks to investments like the new EAF at its mill in Calvert, Ala.
Ternium posts solid Q2, expects further shipment growth
Latin American steel producer Ternium delivered a solid performance in the second quarter of 2025. Performance was driven primarily by higher realized steel prices in Mexico, even as shipment volumes declined slightly across its regional portfolio.
Algoma swings to loss on ‘unprecedented disruptions’ and trade barriers
Canada’s Algoma Steel saw a sharp loss in the second quarter amid a continued challenging market environment and “tariff uncertainties.”
Nucor eyes long-term gains amid strong demand and trade enforcement
Resilient demand across its steel product lines, combined with the continued ramp-up of key expansion projects, drove Nucor’s improved financial results and record-setting performance in the second quarter. That’s according to company executives speaking on an earnings conference call on Tuesday.