Canadian steel producer, Stelco’s steel shipment rose by 9pc to 675,000t (612,350mt) in the first quarter of the year compared to 621,000t in Q1 2020 and increased by 38pc from 489,000t in Q4 2020.
Its hot-rolled shipment grew by 4pc to 467,000t in the first three months of the year compared to 447,000t in the same three-month period last year while it increased by 25pc from 373,000t in the prior quarter. The company’s coated steel shipment rose by 25pc to 140,000t in the first quarter of this year from 112,000t in Q1 2020, while it surged by 119pc from 64,000t in Q4 2020.
Stelco’s cold-rolled shipments however saw a 9pc decline to 32,000t in the first quarter of 2021 compared to 35,000t in the same period last year while it rose by 113pc from 15,000t in the fourth quarter of 2020. Its other steel shipments rose by 33pc to 36,000t in the January to March period compared to 27,000t in the same months last year while it dropped by 3pc from 37,000t in Q4 2020.
The firm’s revenue in the first quarter of the year increased by 49pc to C$665mn ($541.8mn) from C$445mn in the same quarter of 2020, and it grew by 57pc from C$424mn in the prior quarter. Stelco’s adjusted EBITDA saw an 825pc surge to C$185mn in the period between January and March 2021 compared to C$20mn in the same three-month period last year while it rose by 208pc from C$60mn in Q4 2020.
$1 = C$1.23