It’s important for steel investors to follow quarterly production and shipment data. Steel companies’ revenues are a function of commodity prices and shipments. Also, by looking at different companies’ shipments relative to the trend in steel production, we can get insights on whether they are gaining or losing market share.
- U.S. Steel (X) shipped 3.83 million tons of steel to outside customers in 2Q17 compared to 3.65 million tons in 1Q17 and 3.88 million tons in 2Q16. U.S. Steel’s 2Q17 flat rolled shipments rose 3.8% to 2.49 million tons compared to 1Q17. Although U.S. Steel’s 2Q17 flat rolled shipments rose on a sequential basis, they fell on a yearly basis.
- AK Steel (AKS) shipped 1.46 million tons of steel to outside customers in 2Q17. To put this in context, its steel shipments were 1.49 million tons in 1Q17 and 1.56 million tons in 2Q16.
- ArcelorMittal (MT) shipped 21.5 million metric tons of steel in 2Q17 compared to 21.1 million metric tons in 1Q17 and 22.1 million metric tons in 2Q16. ArcelorMittal shipped 5.42 million metric tons of steel under NAFTA (North American Free Trade Agreement) in 2Q17 compared to 5.61 million metric tons in 1Q17. While the company’s consolidated shipments rose on a sequential basis in 2Q17, we saw a decline in its NAFTA shipments.
- Nucor (NUE) shipped 6.75 million tons of steel to outside customers in 2Q17, a YoY (or year-over-year) rise of 4.5%.
- Steel Dynamics’ (STLD) 2Q17 external steel shipments were 2.25 million tons. The company’s 2Q17 shipments fell slightly on a YoY as well as a sequential basis.
In the next part, we’ll look at various factors that could impact steel companies’ 3Q17 shipments.