Steel Mills
November 14, 2019
Stelco Reports Improved Shipments, Revenue in Q3
Written by Sandy Williams
Canadian integrated steelmaker Stelco managed to improve on its revenues and operating income from the second to the third quarter, but still reported an $11 million loss in Q3 adjusted net income. The company plans to expand its product mix by adding pig iron production and shipments in 2020.
Third-quarter revenue of CAD $475 million (approximately $356.3 million U.S.), was up 10 percent from the prior quarter. Operating income improved to CAD $9 million from $3 million in Q2. Shipping volumes increased to 654,000 net tons, although the average selling price decreased 7 percent to CAD $704 per net ton.
