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USA

ArcelorMittal, Gerdau, Gerdau Ameristeel, Ternium Q3 results

November 6, 2008

Financial results for Q3 2008 have been reported by ArcelorMittal, Gerdau, Gerdau Ameristeel, and Ternium. Operating income per ton and EBITDA per ton can be found on the Nerds of Steel earnings spreadsheet. Press releases announcing quarterly results for each company can be found by following the appropriate link below. ArcelorMittal’s Q3 results. Gerdau’s Q3 […]

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Steel industry capacity utilization falls below 70%

November 5, 2008

Data just released by the AISI shows raw steel capacity utilization at 67.3% during the last week of October, down from close to 90% a couple months ago.  How does utilization below 70% compare to previous recessions?  And how long might it last?  A review of historical data is always a good place to start […]

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How low can we go? GDP and steel demand

October 17, 2008

Yesterday, I made a presentation at the American Metal Market conference on wire & wire rod. The title was “How low can we go?” and my purpose was to provide a few heuristics for relating GDP projections to steel demand, both globally and in the US. I tried to avoid making a specific forecast because […]

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US long products imports remain low in September

October 17, 2008

US long products import licenses stayed low at 207,000 short tons in September, compared to August actual imports of 232,000 tons.  Licenses granted up to October 15th indicate that rebar imports in October will decline significantly compared to typical monthly levels (16,000 tons of rebar licenses to October 15th compared to 83,000 tons of actual […]

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Revised US imports of wire rod in July

September 25, 2008

July wire rod imports reported in our earlier post have been revised to 94,000 tons. The earlier figure was incorrect because it did not account for a change in wire rod import codes put into effect in July. See the updated spreadsheet below.  

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US long products imports drop marginally in August

September 17, 2008

US long products imports licenses dropped to 207,000 short tons in August compared to July actuals of 212,000 tons. This is due mainly to lower licenses for importers of rebar (where licenses reached 69,000 tons in August compared to July actuals of 97,000 tons) and wire rod (62,000 tons licenses in August compared to 87,000 […]

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