USA Update: Big steel, minis, and specialty all enjoying return to profits

摘要

1994 turned out tobe more than an acceptable year for the USA steel industry as compared to the recent past, Currently 98M short tons (88.2Mt) of raw steel production are being reported, subject to final adjustments. The two million ton boomlet over 1993 put nearly all producers -integrated, minimill and specialty steels - in the profit column for the year. Early indications are that the first quarter of 1995 will be even better. Capacity utilisation is continuing at more than 90 percent. LTV, Nucor and North Star are embarked on expansions andn Sharon's EAF has reopened (as Caparo Steel). Possibly 1995 will see pro-duction reach 100M short tons (90Mt). Investment in new plant, reopening of closed operations and more efficient utilisation of existing capacity contributed to 1994's gains. Imports of semi-finished steel, especially slabs for rolling into strip, augmented shipped steel tonnage. Continuing competition from minimills has spurred . move by the integrated producers to join them LTV's decision to build a greenfield minimill is certainly a significant breakaway. In fact, some minimillstyle operations have been created by adding continuous casters to existing EAFs within integrated plants. Other integrated produc-ers have replaced obsolete open-hearth shops with new EAF equipment.