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    Market Segment

    January 9, 2023

    CMC Earnings Jump on Strong North American Demand

    Commercial Metals Co. said high demand in North America and increased market share in Europe helped to lift net earnings 12% in its fiscal first quarter of 2023 vs. the same period a year earlier.

    The Irving, Texas-based long products steelmaker and recycler posted net earnings of $261.8 million in its fiscal first quarter ended Nov. 30, up from $232.9 million in the year-ago period on net sales that increased to $.2.23 billion from $1.98 billion.

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    Price on Trade: Milwaukee Framework is a step forward on steel excess capacity

    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.