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Canam Group (CAM) reported 2Q earnings of C$0.10/share, which adjusted to C$0.06/share, beating the Street’s C$0.01, 1Q’s loss of (C$0.03) and the loss of … more
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The spot reference price for 62% Fe iron ore cfr North China fell to $113.80 for the week ending August 10, 2012, to the lowest level since the week ending December 18, 2009, down some 2.5% from $116.70 last week.
For the first quarter of 2012, the iron ore price averaged $141.84, and for 2Q, $139.35; this compares to an average of $176.90 for 1H 2011 and $167.59 for full-year 2011. The post-recession low was $59.10 on March 27, 2009, while the high was $190.19 on February 17, 2011.
Source: The Steel Index
Weekly domestic raw steel production for the week ending August 11, 2012 rose 1.9% to 1.899 million tons (mt) from 1.863 mt last week and up some 0.9% year-on-year.
We would caution readers that only half of the AISI reporting companies release their weekly production in “real time” so the other half of this data is estimated – using prior months’ reported production & operating rate. What this means is that when production is changing as it is right now, the weekly data is actually understating the change.
Capacity utilization also rose from 75.4% last week to 76.9% this week, slightly below the year-ago level of 77.0%.
The lowest production level since the recession began was 800,000 tons for the week of December 27, 2008, while the highest level was 2.005 mt for the week of May 12, 2012. The lowest capacity utilization rate since the recession began was 33.5% for the week of December 27, 2008; the highest was 81.1% on May 12, 2012.
Source: AISI and Steel Market Intelligence
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ThyssenKrupp (TKA) reported JunQ adjusted EBIT of €122m, which cleaned up to €172m, well ahead of the Street’s €115.1m, and up from MarQ’s €134m. The increase was… more
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Tenaris (TS) reported 2Q EBITDA of $758.6m, slightly ahead of the Street’s $751.6m, adjusted 1Q EBITDA of $718.2m and the year-ago period’s… more
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Rio Tinto plc reported 1H underlying EBITDA of $10.08B, ahead of analysts’ $9.87B but 29% below the year-ago period EBITDA. Lower commodity prices… more
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Ternium S.A. (TX) reported 2Q EBITDA of $348.0m, 4% short of the Street’s $363.6m and down 6% from 1Q’s EBITDA of $372.0m. Management attributed the decrease to… more
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August 10, 2012 Posted by Jordan
Steel Market Production Cuts – Shagang began maintenance on one of its Hot Rolled Coil lines on August 7 with the restart time unclear – resulting in 13,000 tonnes per day of lost output.
Steel Market Production Increases – Chinese steelmaker Taishan has begun dismantling its 420 m³ No. 4 and 5 blast furnaces.
Steel Market Production Increases – Chinese steelmaker Hebei Yanxin Building Materials has begun construction on a new 400,000 tpy silicomanganese facility, with 2 of 3 submerged electric arc furnaces scheduled to be commissioned by the end of 2012.
Sources: Steel Business Briefing and SteelOrbis, SteelGuru
