14
Nov
19:16
Stelco returns to profit in third quarter
Canadian steelmaker Stelco returned to profitability in the third quarter, producing net income of CAD 123 million ($92.8m) on sales of CAD 283m, Kallanish reports.
In Q3 2017, the company produced a net loss of CAD 13m on sales of CAD 336m.
Stelco attributes the jump to a 43% increase in shipping volumes and a 24% spike in average selling prices. The mill is primarily geared for hot-rolled coil production, and hot-rolled coils accounted for about 76% of its …
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Anonymous
Very good overview of the weekly steel market.
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