Steel Mills
November 15, 2017
Furnace Maintenance Cools 3Q Results at Stelco
Written by Tim Triplett
Canada’s Stelco, Inc., reported revenues totaling $1.15 billion (all figures Canadian) for the nine months ended Sept. 30, an increase of 16 percent over the prior-year period. Operating profit totaled $61 million, up from $8 million last year. The average selling price for the year to date was $814 per net ton, up from $654 in 2016, due to the improved market price of steel.
In the third quarter, the Hamilton, Ontario-based flat rolled steelmaker reported revenue of $336 million, a 10 percent decrease from the same period last year primarily from lower shipping volumes due to its planned blast furnace outage. Operating profit for the quarter was zero, down from $44 million in 3Q 2016.
