Canadian steel producer Stelco’s total H1 2021 steel shipments grew by 13pc to 1.3mn t (1.1mn mt) from 1.1mn t in the same period last year.
In the second quarter of the year, total steel shipments increased by 18pc to 679,000t from 576,000t in Q2 2020.
Output of hot-rolled products grew by 10pc in H1 2021 to 957,000t from 870,000t in H1 2020. Hot rolled production in Q2 2021 rose by 16pc to 490,000t compared to 423,000t in Q2 2020.
Production of coated products grew by 28pc to 282,000t in the first half of the year from 221,000t during the same year-ago period. In Q2 2021, output increased by 30pc to 142,000t from the previous year.
Cold-rolled products saw an 18pc drop in production in the first six months of the year to 41,000t from 50,000t in H1 2020. In Q2 2021, production of cold-rolled products dropped by 40pc to 9,000t from 15,000t in the same quarter in 2020.
Other steel products saw a 32pc increase in output to 74,000t in H1 2021 from 56,000t in H1 2020. The output of other steel products in Q2 2021 grew by 31pc to 38,000t from 29,000t last year.
The company’s revenue in H1 2021 surged by 85pc to C$1.5bn ($1.1bn) compared to C$856mn in H1 2020. Revenue in Q2 2021 grew by 123pc to C$918mn from C$411mn in Q2 2020 and was up by 38pc from C$665mn in Q1 2021.
Its adjusted EBITDA surged by 1,002pc in H1 2021 to C$595mn from C$54mn in the same period in 2020. In Q2 2021, the adjusted EBITDA increased by 1,106pc to C$410mn compared to C$34mn in Q2 2020 and grew by 120pc from C$274mn in Q1 2021.
($1=C$1.25)