ThyssenKrupp AG finances are beginning to improve. Earnings before interest and tax (EBIT) more than doubled to €247 million ($338 million) in the first quarter FY 2013-2014 (ending Dec. 31, 2013). Net debt dropped to €4.6 billion ($6.3 billion) from €5 billion ($6.8 billion) the previous quarter. ThyssenKrupp’s gearing ratio (net debt to equity) was […]
SMU Price Momentum Indicator ended the month of December where it began, indicating higher flat rolled steel prices over the next 30 days. The domestic steel mills did not disappoint as they raised base price levels to $35.00/cwt on hot rolled and $40.50/cwt on cold rolled and coated (plus extras, FOB mill) for the mills […]
California Steel Industries (CSI) opened their February order book and became the first domestic mill to announce a new round of flat rolled price increases. In a letter to their customers dated December 13, 2013 the mill advised, “Due to changing market conditions, California Steel Industries is increasing transaction prices by a minimum of the […]
California Steel Industries (CSI) and U.S. Steel Posco (UPI) became the first domestic mills to raise flat rolled steel prices as they opened their order books for the month of January 2014. CSI was the first to release their letter informing their customers that “due to changing market conditions” the mill was increasing their transaction […]
AK Steel announced the election Mark G. Essig and Vicente Wright to its Board of Directors effective Nov. 1, 2013. Mark Essig is currently CEO of FKI Security group and has held several senior executive positions in the steel industry including executive vice president at AK Steel from 1991 to 1998. Vicente Wright served as […]
Ultra light gauge galvanized (thicknesses less than .015”) have traditionally been associated with foreign steel suppliers as opposed to domestic mills. The U.S. mills have, over time, relegated the ultra light gauge markets as ones of the least interest due to the amount of line time it takes to produce these products versus running a […]
Steel buyers are scratching their heads while steel mills begin to line up announcing identical $50 per ton price increases on all flat rolled products. AK Steel was the first to follow U.S. Steel when they put out a press release advising their customers of their intention to raise spot prices by a minimum of […]
U.S. Steel verbally began telling their U.S. customers of their intention of raising spot flat rolled prices by $50 per ton. Price increase letters were sent to their customers by Nucor and NLMK USA as they advised their customers of their intention of raising flat rolled spot prices by a minimum of $50 per ton. […]