Stelco Holdings Inc T.STLC

Primary Symbol: STZHF

Steel Steel

Stelco Holdings Inc. is a Canada-based integrated and independent steelmaker with advanced integrated steelmaking facilities in North America. The Company is engaged in the production and sale of steel products. It produces flat-rolled value-added steels, including coated, cold-rolled and hot-rolled steel products, as well as pig iron and metallurgical coke. With its gauge, crown, and shape control, as well as uniform through-coil mechanical properties, the Company’s steel products are supplied to customers in the construction, automotive, energy, appliance, and pipe and tube industries across Canada and the United States as well as to a variety of steel service centers, which are distributors of steel products. The Company operates from two facilities: Lake Erie Works (LEW) near Nanticoke, Ontario and Hamilton Works (HW) in Hamilton, Ontario.

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Stelco Holdings Inc

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Post by fishcarrieron Jul 15, 2021 12:43pm

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Post# 33552604

Effects of strong steel prices

Shares in Siemens Gamesa Renewable Energy tumbled more than 14% on Thursday after the wind turbine maker issued a profit warning due to a sharp increase in raw material prices.

The Spanish renewable energy company, a subsidiary of Siemens Energy ENR, -11.09%, said it now expects a negative operating margin, between -1% and 0%, for the financial year following a weak third quarter. The company had previously forecast a margin of 3% to 5%.

Steel prices have surged this year, with steel CRU index futures HRN00, +0.39% up more than 88% year-to-date at $1,815 per short ton, while copper futures HG00, 1.27% are 23% up so far in 2021.