In the chart below (and the spreadsheet behind the chart), we have added ArcelorMittal and TimkenSteel EBITDA and operating income for the second quarter of 2016. Both companies reported better performance in the second quarter as compared to Q1, continuing the improving trend we’ve seen among the companies we track. ArcelorMittal’s EBITDA per ton rose to $73, up from $39 in Q1. TimkenSteel achieved $26 of EBITDA per ton in Q2, as compared to a $4 loss in Q1.
AK Steel and US Steel announced earnings this week and both companies reported improved EBITDA per ton. AK Steel saw EBITDA per ton rise to $78, up from $65 in Q1. US Steel recorded positive EBITDA per ton of $32 in Q2, up from a loss of $46 in Q1.
We’ve added Q2 EBITDA and operating income per ton for Commercial Metals, Nucor, and SSAB to the Nerds of Steel earnings spreadsheet. All three companies reported higher EBITDA per ton in the second quarter, as compared to Q1 of this year. CMC reported a slight increase, to $86 from $83 in Q1. Nucor and SSAB saw bigger jumps. Nucor reported $97, up from $62 in Q2 and SSAB turned in $88, up from $49 in Q1. A few more companies report this week so keep checking back.
Worldsteel reported Chinese crude steel production at 69.5 million metric tonnes in June, 1.7% higher than in June 2015. Crude steel output in the first six months of 2016 was 0.6% lower than in the same period last year.
China’s net finished steel exports (exports minus imports) in June were 9.8 million tonnes, 26.9% higher than in June 2015. The first six months of 2016 recorded net exports 10.5% higher than in the the first six months of 2015.
China monthly crude steel production
January 2005 to June 2016
thousand metric tonnes
Worldsteel published June’s world crude steel production today. World crude steel output was 135.7 million metric tonnes, essentially the same as in June 2015. World crude steel production for the first six months of 2016 was 1.6% lower than in the same period last year.
China accounted for 51% of world production in June with output of 69.5 million tonnes, up 1.7% compared to June 2015. Elsewhere in Asia, Japanese output rose 2.7% compared to last June and Indian production was up 3.9%, though South Korean production fell 6.7%. European Union output (temporarily including the UK) was down 5.3% compared to June 2015 driven by declines in the UK (-36.2%), Poland (-23.2%), and Spain (-13.7%). In the Americas, Brazilian production fell 8.5% compared to June last year but US production was flat.
All the data for June 2016 and for a number of prior years can be found in the Nerds spreadsheet below.
Steel Dynamics led the pack by announcing Q2 earnings this morning. The company achieved an impressive $144 of EBITDA per ton in the quarter, up from $97 in Q1. Later this week and next week more NA mills will release earnings. As they do, we’ll update the chart that appears below. Note: You can view or download the data behind the chart by clicking the symbols that appear in the black bar below the chart.
