Ternium sees earnings soar in Q4, expects increasing Mexican steel demand
Latin American steelmaker Ternium posted a strong uptick in earnings in its fourth quarter, and sees increasing steel demand growth in Mexico.
Tag: blast furnace
Final thoughts
We’ve all heard a lot about mill “discipline” following a wave of consolidation over the last few years. That discipline is often evident when prices are rising, less so when they are falling. I remember hearing earlier this year that mills weren’t going to let hot-rolled (HR) coil prices fall below $1,000 per short ton (st). Then not below $900/st. Now, some of you tell me that HR prices in the mid/high-$800s are the “1-800 price” – widely available to regular spot buyers. So what comes next, and will mills “hold the line” in the $800s?
Algoma restarts steel production after unplanned outage
Algoma Steel has restarted its blast furnace and resumed steelmaking at its mill in Sault Ste. Marie, Ontario.
Final thoughts
Sheet prices have fallen again this week on shorter lead times, higher imports, and potentially higher inventories. (We’ll see for sure when we release our service center shipment and inventory data next week.) I remember reporting almost exactly the same thing about a month ago and getting a fair amount of pushback. Not so much these days.
CRU: Posco begins construction of EAF
South Korean integrated steelmaker Posco has started building a 2.5-million-metric-ton-per-year (Mt/y) electric-arc furnace (EAF) at its Gwangyang works, a key stage in the company’s transition to becoming a green steel producer.
Another incident hits Algoma Steel mill
Algoma Steel Group Inc. suffered another incident at its steel mill in Sault Ste. Marie, Ontario, this week.
Final thoughts
It was another steady drip lower, down $20/st to $980/st. In other words, the kind of on-and-off declines we’ve been seeing since the start of the year.
ArcelorMittal: CSP Deal to Close in Feb, NA Expansions Progress
ArcelorMittal expects that its $2.2-billion acquisition of Brazilian steelmaker Companhia Siderúrgica do Pecém (CSP) will close in late February. “The transaction closes end of this month,” chief financial officer Genuino Christino said during an earnings call with analysts last week. The Luxembourg-based steelmaker had said that the deal had received final antitrust clearance in commentary […]