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US Steel Q2 earnings

July 28, 2009

US Steel announced second quarter 2009 earnings today.  See the company’s press release here.  X continues to struggle as a result of weak market conditions and pricing.  Q2 EBITDA per ton was negative $104, which is $5 worse than Q1 EBITDA of negative $99 per ton.   As you can see on the Nerds of Steel […]

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Nucor and Steel Dynamics report Q2 earnings

July 23, 2009

Nucor and Steel Dynamics just reported Q2 2009 earnings.  The Nucor announcement can be found here and Steel Dynamics’ announcement is here.  Both companies improved relative to Q1, which looks like it may have been the bottom for steel industry profitability.  Steel Dynamics posted positive EBITDA per ton of $46 in Q2, much improved from […]

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AK Steel reports Q2 2009 results

July 21, 2009

AK Steel is first out of the blocks reporting earnings for the second quarter of 2009.  See the results here.  EBITDA per ton was ($24), still negative but better than Q1 when EBITDA was ($58) per ton.   The improvement in EBITDA was driven by lower cash operating costs.  AK’s average price per ton fell by […]

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US flat products imports drop another 23% in June

July 20, 2009

Based on reported import licenses, US flat products imports declined 23% from 350,000 short tons in May to 270,000 tons in June. This compares to flat products imports of 816,000 tons in September 2008 when we started collecting flat products license data. Hot dip galvanized imports showed the largest decline at 28% falling to 63,000 […]

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World crude steel production up 4% in June

July 20, 2009

The World Steel Association’s crude steel production report published today shows a 4% rise for June over May. Global production is running 21% lower year to date versus 2008, but that varies significantly by region. The developed world is down 45%. The non-China developing world is down 23%. China, by contrast, is up 2%. China […]

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US long products imports rise 9% in June

July 17, 2009

Based on reported import licenses, US long products imports rose 9% from 98,000 short tons in May to 108,000 tons in June. To put this in perspective, long products imports in June 2008 were 269,000 tons and in June 2007, 496,000 tons. There were some significant changes within the product categories. Rebar imports dropped 59% […]

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