Canadian steel producer Stelco’s total steel shipments in the first nine months of the year fell by 15pc to 1.5mn nt (1.38mn mt) from 1.8mn mt in January-September 2019.
In Q3 2020, the steelmaker’s total steel shipments declined by 49pc to 334mn nt from 654mn nt in Q3 2019 and fell by 42pc from 576mn nt in Q2 2020.
Of its total shipments in the January-September period, Stelco’s hot-rolled shipment stood at 1mn nt, coated steel was at 297,000nt, and cold-rolled steel stood at 66,000nt. In the third quarter of the year, the firm shipped 211,000nt of hot-rolled steel, 760,000nt of coated steel, and 16,000nt of cold-rolled steel.
Stelco’s revenue in the nine-month period fell by 22pc to C$1bn ($834.2mn) from C$1.4bn during the same month in 2019. In Q3 2020, its revenue declined by 49pc to C$237mn from C$464mn in Q3 2019 and by 42pc from C$411mn in Q2 2020.
Stelco’s adjusted EBITDA in the first nine months of the year declined by 89pc to C$15mn from C$131mn during the same months in 2019. Adjusted EBITDA in Q3 2020 rose by 270pc to C$39mn from C$23mn in Q3 2019 and increased by 215pc from C$34mn in Q2 2020.
(C$1 = $0.76)