Canadian steelmaker Stelco’s steel shipments fell by 17pc to 2mn nt (1.8mn mt) in 2020 compared to 2.4mn nt in 2019.
The firm’s total steel shipment in the fourth quarter of 2020 dropped by 23pc to 489,000nt compared to 633,000nt in Q4 2019 but increased by 46pc from 334,000nt in the preceding quarter.
In 2020, Stelco’s hot roll shipments fell by 14pc to 1.4mn nt from 1.6mn nt in 2019, while its coated steel shipments rose by 11pc to 361,000nt from 326,000nt during the same period. The company’s cold roll shipment declined by 9pc last year to 81,000nt from 89,000nt in 2019 but rose by 62pc for its other steel products to 124,000nt from 330,000nt in the same timeframe.
In Q4 2020, the Canadian steelmaker’s hot roll shipment dropped by 2pc to 373,000nt from 382,000nt in the same quarter of 2019 but increased by 77pc from 211,000nt in Q3 2020. Coated steel shipments in the fourth quarter fell by 40pc to 64,000nt from 106,000nt in Q4 2019 and by 16pc from 76,000nt in Q3 2020.
The firm’s cold roll shipments in Q4 2020 declined by 63pc to 15,000nt from 40,000nt in the same quarter of the previous year and fell by 6pc from 16,000nt in Q3 2020. Other steel products’ shipments also fell by 65pc to 37,000nt in the fourth quarter from 105,000nt in Q4 2019 but increased by 19pc from 31,000nt in Q3 2020.
Stelco’s revenue in 2020 dropped by 18pc to C$1.5bn from C$1.8bn ($1.18bn) in 2019. Its revenue in Q4 2020 dropped by 3pc to C$424mn from C$435mn in Q4 2019 and rose by 79pc from C$237mn in Q3 2020.
The firm’s adjusted EBITDA fell by 47pc to C$75mn last year from C$141mn in the year prior. Its adjusted EBITDA grew by 500pc to C$60mn in Q4 2020 from C$10mn in Q4 2019 and increased from C$39mn in Q3 2020.
($1=C$1.26)