Steel Mills
Kloeckner Looks Forward to US Manufacturing Growth
Written by Sandy Williams
November 10, 2013
Kloeckner Americas reported sales of €594 million ($793 million) during the third quarter, down 14.9 percent from a year ago. Third quarter EBITDA of €20 million ($26.7 million) was up 67 percent from €12 million in 2012 and was unchanged from second quarter 2013. The US segment accounted for 38 percent of Kloeckner & Co. sales while Brazil sales accounted for 1.0 percent.
Turnover for third quarter was down 4.2 percent year-over-year, at 714 million tonnes vs. 746 million tonnes.
For the first nine months of the year, EBITDA in the Americas segment, before restructuring expenses, was €60 million ($80.1 million), down slightly from €64 million ($85.5 million) in 2012 due to consolidation measures and lower steel prices in the first half of the year.
Inventory turnover for the segment declined by 3.7 percent in the first three quarters and 2.6 percent in the USA.
Kloeckner expects sales growth in the US due to a recovering manufacturing sector driven by low energy and labor costs.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Nippon won’t import slabs to US if U.S. Steel deal goes through
Nippon Steel has affirmed that if its $14.9-billion bid for U.S. Steel proves successful, the Japanese steelmaker will not import overseas-produced slabs to the US.
AISI: Raw steel production eases to 5-week low
Domestic raw steel mill production slipped to a five-week low last week, according to the latest figures released by the American Iron and Steel Institute (AISI). Weekly production is now at the third-lowest level recorded this year.
Nucor maintains HR price at $750/ton
Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil was unchanged week on week (w/w) at $750 per short ton (st) on Monday, Nov. 18.
Mexican court orders sale of officially bankrupt AHMSA
After failing to reach agreements with its creditors, Altos Hornos de México (AHMSA) has been formally declared bankrupt by a Mexican bankruptcy court.
AISI: Raw steel production edges back up
Domestic raw steel production recovered last week, after slipping the week prior, according to the latest American Iron and Steel Institute (AISI) data. Weekly production remains at some of the lowest levels recorded this year.