Steel Mills
NLMK USA: Declining Volumes Offset by Higher Pricing
Written by Sandy Williams
November 1, 2016
The NLMK Group reports combines results for its Foreign Rolled Products Segment which includes NLMK USA and six strip and plate production sites in Europe, including NLMK Dansteel in Denmark. NLMK USA is comprised of NLMK Pennsylvania, NLMK Indiana and Sharon Coating.
The segment saw Q3 sales decline to 541,000 tonnes, down 18 percent from Q2 and 8 percent year over year. The decrease was due to softer demand and normalization of inventory in the U.S. and seasonally slower demand in Europe. NLMK USA sales totaled 444,000 tonnes for the quarter.
Revenue for the segment totaled $398 million compared to $400 million in Q2 due to higher prices in the quarter offsetting lower sales volume. EBITDA grew 31 percent to $74 million from second quarter. EBITDA margin of 18 percent was the highest since 2008.
NLMK expects higher costs, supply discipline and ongoing trade actions to support the pricing environment in the U.S. through the end of 2016.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Nippon’s Mori meets with Pa. Gov. Shapiro: Report
Nori, a top Nippon Steel official, met on Tuesday with Pennsylvania's governor, to discuss its proposed acquisition of U.S. Steel.
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 falls 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.