Hamilton Ontario based Canadian steel maker Stelco Holdings Inc announced today that the Company shipped approximately 625,000 net tons of steel in the fourth quarter of 2021, well below prior guidance of approximately 675,000–680,000 net tons. Stelco said “Shipments in the fourth quarter were negatively impacted by various production challenges, including unplanned outages on its hot strip mill, logistics challenges, and delays at the end of the fourth quarter brought on by the emergence of the Omicron variant which affected Stelco, its customers and logistics suppliers. Stelco is also providing guidance for the first quarter of 2022 of steel shipments at or potentially lower than the fourth quarters. The lower guidance for the first quarter is due to planned outages that have been advanced in response to the unplanned outages experienced in the fourth quarter, recent softer price environment and weaker demand conditions being experienced currently, as well as increased COVID-19 related disruptions with respect to labor force availability, which is impacting production, logistics and customer demand.”
Hamilton Ontario based Canadian steel maker Stelco Holdings Inc announced today that the Company shipped approximately 625,000 net tons of steel in the fourth quarter of 2021, well below prior guidance of approximately 675,000–680,000 net tons. Stelco said “Shipments in the fourth quarter were negatively impacted by various production challenges, including unplanned outages on its hot strip mill, logistics challenges, and delays at the end of the fourth quarter brought on by the emergence of the Omicron variant which affected Stelco, its customers and logistics suppliers. Stelco is also providing guidance for the first quarter of 2022 of steel shipments at or potentially lower than the fourth quarters. The lower guidance for the first quarter is due to planned outages that have been advanced in response to the unplanned outages experienced in the fourth quarter, recent softer price environment and weaker demand conditions being experienced currently, as well as increased COVID-19 related disruptions with respect to labor force availability, which is impacting production, logistics and customer demand.”
