Category: ‘Uncategorized’

Cliffs – Results Fall Short;Pressure Likely to Continue – Thoughts from the 3Q Conference Call

October 29, 2012 Posted by Steel Market Intelligence

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Cliffs Natural Resources (CLF) missed meaningfully with an adjusted $0.69/share, far short of consensus of $1.05 as a bevy of operating problems as well as weaker… more.

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Metals USA – Inventories “Butt Naked” and Other “Bons Mots” from MUSA 3Q Conference Call

October 29, 2012 Posted by Steel Market Intelligence

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Metals USA reported adjusted 3Q earnings of $0.38/share, in line with the Street’s $0.38/share, but down from 2Q’s $0.51/share as a 12% increase in shipments was offset by… more.

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CRC Lead Times Move to Lowest Level in Almost a Year

October 26, 2012 Posted by Steel Market Intelligence

CRC lead times for the week ending October 21 fell to 4.8 from 5.3 the week prior and 6.0 two weeks ago. This represents the lowest level since the series began in November of 2011.

HRC lead times declined to 3.3 from 3.5 in the week prior, while HDG lead times held at last week’s levels of 5.4.

Sources: The Steel Index, Steel Business Briefing

HRC = Hot Rolled Coil
CRC = Cold Rolled Coil
HDG = Hot Dipped Galvanized

Advance/Decliner Index Falls on China Reversal

October 25, 2012 Posted by Steel Market Intelligence

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Our Advance/Decliner Index fell to a six-week low as oversupply concerns returned to the Chinese market following news of higher-than-expected final September production …more

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Daily Steel Market Production Report – Coiled-Bar: Made in Taiwan?

October 24, 2012 Posted by Steel Market Intelligence

Steel Market Production Increases – Taiwanese steelmaker Wei Chih Steel has ordered a new 500,000+ tpy coiled-bar line for the bar mill in Tainan and plans to begin production by year-end 2013.

Sources: SteelOrbis

Commercial Metals (CMC) – Good Results with Global Trading Group Dragging; Seasonal Slowdown in NovQ – Thoughts from the AugQ Conference Call

October 24, 2012 Posted by Steel Market Intelligence

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Commercial Metals (CMC) reported AugQ earnings of $0.26/share, which adjusted to $0.21/share excluding non-recurring items, below the Street’s $0.28/share …more

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September ABI Highest in Two Years – Multi-Family Residential Hits Highest Since December 2005

October 24, 2012 Posted by Steel Market Intelligence

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The American Institute of Architects’ (AIA) ABI Index – a leading indicator of non-residential construction activity – rose for the fourth consecutive month in September, and for …more

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September Imports Dry Up While Asia Floods In

October 24, 2012 Posted by Steel Market Intelligence

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September preliminary imports declined a nominal 1.4% to 2.4 million tons (mt) for a five-month low, and down some 22.4% from the peak in April. There were meaningful …more

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Daily Steel Market Production Report – Eastern Europe Increases While the West Cuts

October 23, 2012 Posted by Steel Market Intelligence

Steel Market Production Cuts – ArcelorMittal announced that the Dunkirk, France facility’s #2 blast furnace will remain idled until at least the end of 1Q13, extending the original target of three months from August. The facility is expected to produce 6.1 mt this year, or about 90% of capacity, despite the shutdown.

Steel Market Production Increases – Russian steelmaker Mechel has restarted the 810,000 tpy billet plant in Otelu Rosu,Romania following a one-month outage.

Steel Market Production Increases – Ukrainian steelmaker Interpipe plans to increase production to 80-85% of capacity at the new EAF billet/bloom plant in Dnepropetrovsk, with output reaching 90,000 tpm – or 1.08 mtpy – in December and nearing nameplate capacity of 1.32 mtpy in mid-2013.

Sources: Steel Business Briefing

Daily Steel Market Production Report – ArcelorMittal Invests in Luxembourg

October 22, 2012 Posted by Steel Market Intelligence

Steel Market Production Increases – ArcelorMittal plans to upgrade the EAF at the 1 mtpy Esch-Belval, Luxembourg facility, increasing its capacity by over 10%.

Steel Market Production Cuts – Argentinian steel producer Ternium Siderar will idle one of two blast furnaces – about half of the plant’s 3.89 mtpy capacity – for approximately four months.

Steel Market Production Cuts – Japanese steelmaker Tokyo Steel commented that it had no plans to re-start the 1.8 mtpy pickling line at the Tahara works after it was damaged by a fire, and it might not be re-started until year-end.

Steel Market Production Increases – Peruvian steelmaker Aceros Arequipa plans to increase the company’s 900,000 tpy longs capacity by adding an additional 650,000 tpy rolling mill by year-end.

Steel Market Production Increases – Danish plate processor Dansteel announced a plan to “revamp” their new rolling mill, increasing capacity to 550,000 tpy.

Steel Market Production Increases – Palestinian steelmaker Hassouneh Group will begin production at a new 300,000 tpy EAF facility in Jordan by 2Q13.

Sources: Steel Business Briefing