Steel Mills
Ryerson Revenue Rises on Strong Shipments and Pricing in 2Q
Written by Sandy Williams
June 29, 2018
Metals distributor and processor Ryerson Holdings is expecting stronger revenue in the second quarter due to an increase in tons sold and higher average selling prices. Year-over-year volume growth was evident in nearly all end markets, notably in commercial ground transportation, consumer durable equipment and industrial equipment, the company said.
Pricing is continuing to improve in the second quarter and manufacturing remains strong, said Ryerson. With May steel imports receding, service center volumes up 5.0 percent January through May, and industrial production showing 3.5 percent growth this year, Ryerson expects continued shipment strength.
Looking forward to the third quarter, the company said: “Ryerson expects modest pricing increases in the third quarter of 2018 as June 2018 commodity prices for CRU hot-rolled carbon steel, Midwest aluminum, and the stainless 304 surcharge are trending above average second-quarter 2018 prices. Ryerson anticipates average inventory costs to rise in the third quarter of 2018 as gross margins stabilize. However, Ryerson believes that end market demand will remain stronger than historical averages for the second half of 2018 due to inventory dislocations caused by trade actions and improved U.S. industrial demand.”
Ryerson anticipates revenue to be in the range of $1.04 billion to $1.05 billion for the second quarter, compared to $941 million in the first quarter of 2018 and $875 million in the second quarter of 2017.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
SDI presses on with steel, aluminum investments
Steel Dynamics Inc. remains optimistic about its prospects as it ramps up flat-rolled steel operations and prepares for the production of aluminum products next year. Executives from the Fort Wayne, Ind.-based steelmaker provided an update on the company’s operations on a conference call on Thursday held to discuss SDI’s third-quarter earnings results.
CMC earnings slide, but still near top mark
CMC Fourth quarter ended Aug. 31 2024 2023 Change Net sales $1,996.1 $2,209.2 -9.6% Net income (loss) $103.9 $184.2 -43.6% Per diluted share $0.90 $1.56 -42.3% Full year ended Aug. 31 Net sales $7,925.9 $8,799.5 -9.9% Net income (loss) $485.5 $859.7 -43.5% Per diluted share $4.14 $7.25 -42.9% (in millions of dollars except per share) […]
SDI posts lower Q3 profit, sees better times in ’25
Steel Dynamics Inc. (SDI) reported a drop in third-quarter profits driven largely by lower flat-rolled steel prices. The Fort Wayne, Ind.-based electric arc furnace (EAF) steelmaker also saw scrap prices slip. That happened because of softer demand from domestic mills taking planned maintenance outages.
Cliffs hosts fireside chat on industry, union, government collaboration
Cleveland-Cliffs’s Chairman, President, and CEO Lourenco Goncalves hosted a fireside chat with US Trade Representative Katherine Tai and Acting Secretary of Labor Julie Su on Friday at the company’s plate mill in Coatesville, Pa.
Nippon agrees to sell Calvert stake, if USS deal closes
ArcelorMittal is set to take full ownership of AM/NS Calvert if Nippon Steel finalizes its pending acquisition of U.S. Steel.