Steel Mills
NLMK USA Reports Lower Sales in Q3
Written by Sandy Williams
October 14, 2019
NLMK USA’s sales fell 6.0 percent to 549,000 metric tons in the third quarter of 2019 compared to the second quarter, said NLMK Group in a trading update today. Declining volume was the result of decreased HRC sales due to lower demand from the tube and pipe sector. Shipments of hot-dipped galvanized (HDG) also decreased due to weaker demand in the construction sector.
Scrap prices in the U.S. dropped by 11 percent quarter-over-quarter, driven by lower rolled steel prices domestically and the reduction in demand in Turkey. Oversupply in the market and weaker demand pushed U.S. flat rolled steel prices down 5-8 percent in Q3, said NLMK.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
USS/Nippon deal: Who will have the happiest holidays?
Will Santa bring gifts for the leadership, employees, and shareholders of U.S. Steel and Nippon Steel, and lumps of coal for USW leadership and politicians opposed to the deal?
‘Orderly liquidation’ of AHMSA assets begins
A trustee has formally taken over AHMSA and begun the liquidation process of the bankrupt Mexican steelmaker.
Nippon buying stake in Canadian iron ore project
Nippon Steel and a Japanese trading company have entered an agreement to buy a 49% interest in a Champion Iron ore project in Canada.
USS anticipates Q4 loss on weak demand, BR2 start-up
Amid a challenging pricing and demand environment, and with the ongoing ramp-up of the Big River 2 mill, USS is anticipating a loss for the fourth quarter.
Nucor blames steel mills segment for depressed Q4 guidance
Nucor cited decreased volumes and prices in it steel mills segment as the key driver of its lower guidance for the fourth quarter.