Market Segment
July 27, 2023
Written by Laura Miller
| Second quarter ended June 30 | 2023 | 2022 | % Change |
|---|---|---|---|
| Net sales | $3,880 | $4,681 | -17% |
| Net earnings (loss) | $386 | $574 | -33% |
| Per diluted share | $6.49 | $9.15 | -29% |
| Nine months ended Feb.28 | |||
| Net sales | $7,846 | $9,167 | -14% |
| Net earnings (loss) | $771 | $1,099 | -30% |
| Per diluted share | $12.92 | $17.49 | -26% |
Members of the Global Forum on Steel Excess Capacity (GFSEC) met in Wisconsin this week and unveiled an updated plan to combat market-distorting excess capacity. The Milwaukee Framework adds color to the 2017 “Berlin principles” and is a positive step in the ongoing battle against global steel market distortions. However,
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).
The Department of Commerce thinks revoking the anti-dumping duty (AD) orders on cut-to-length carbon steel plate from China and Russia would lead to the recurrence of dumping at significant margins.
Algoma Steel Group Inc. expects the first heat from its second electric-arc furnace (EAF) in the coming days, even as it forecasts a quarterly EBITDA loss and a 20% decline in shipments.