Steel Mills
February 20, 2020
Stelco Posts Q4 Loss Due to Steel Prices
Written by Sandy Williams
Canadian steel producer Stelco Holdings cited challenging market conditions and an “unprecedented” drop in steel prices for its fourth-quarter loss.
Stelco reported a net loss of $27 million for the quarter on sales of $435 million, down from $648 millon in the prior-year quarter, due to lower steel prices and shipping volumes. Full year net income totaled just $20 million on revenues of $1.8 billion, down from $2.5 billion in 2018 (all figures Canadian).
