Steel Mills
March 28, 2018
Stelco Forecasts Strong Earnings
Written by Tim Triplett
Pointing to improving market conditions and favorable pricing trends, Canada’s Stelco forecasts Q1 earnings of $60-70 million and Q2 earnings of $120-150 million.
The integrated steel producer expects first-quarter 2018 shipments to be 3-5 percent higher than fourth-quarter 2017. In late Q1 2018, the company expanded its distribution capabilities by adding 200 rail cars to its distribution fleet and increased its shipping capacity through its LEW dock project. Those enhancements are expected to improve shipments in the second quarter. Capital projects remain largely on schedule and on budget, the company said.
