Steel Products
February 18, 2021
Stelco: BF Upgrade and Pig Iron Production to Drive Profitability
Written by Sandy Williams
Stelco management presented an optimistic outlook for the Canadian mill in 2021. Fourth-quarter revenue rose 79 percent from the third quarter to CAD $424 million on higher steel pricing and increased volume. Shipments rose 46 percent sequentially to 489,000 net tons. Shipments are expected to jump another 35 percent in the first quarter of 2021.
Stelco completed an upgrade of its blast furnace during Q4, reducing costs and expanding product mix. The upgrade increases annual capacity by 300,000 net tons per year and reduces costs by CAD $30 per ton. The blast furnace has already achieved multiple production records. Upgrades to the cold rolled and coated divisions boosted Stelco’s participation in the advanced high strength steel market, the company said.
