Posted Dec 13, 2020, 12:04 PM
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Registered User
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Join Date: Mar 2008
Posts: 3,728
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Toronto Star:
Quote:
Stelco Holdings Inc. (STLC)
The Hamilton, Ont., steelmaker has struggled this year with slumping steel prices and plunge in shipments by as much as half during the summer. The stock’s rebound this week follows a stunning 50 per cent recovery in steel prices, mostly in the third quarter. There’s also an investor recognition that accounting for the drop in shipments is Stelco’s ambitious retrofitting of both its flagship steelworks in Hamilton and its more modern Nanticoke, Ont., facilities, an upgrading project that will reduce costs and increase output. Stelco has been repeatedly gratified that it has been able to sell all the steel it makes, yet frustrated that until the upgrading is completed it can’t make still more.
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