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Tony Taccone

A strategy consultant to steel companies for 20 years and a founding partner of First River Consulting, a strategy consulting boutique. Follows the steel industry globally and proudly admits to being a steel nerd.

Posts by Tony Taccone

Nucor & Steel Dynamics announce Q3 results

October 22, 2010

This week Nucor and Steel Dynamics announced Q3 2010 earnings results.  Nucor’s press release can be found here and Steel Dynamics’ release is here.   Both companies saw operating income and EBITDA per ton drop off relative to Q2.  You can see quarterly operating income and EBITDA per ton in the Nerds of Steel earnings spreadsheet.

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China’s steel demand to peak at over 1 billion tonnes?

August 12, 2010

The Australia National University recently held a conference called China Update 2010.  A complete list of papers presented at the conference can be found here.  Among the papers was a very interesting analysis of China’s steel intensity.  See paper #5 China’s metal intensity in comparative perspective by Huw McKay, Yu Sheng and Ligang Song. The authors attempt […]

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2010 and 2011 GDP and steel demand growth

August 11, 2010

The IMF recently updated its forecast for world GDP growth in the latest World Economic Outlook.  The global economy is projected to grow at 4.6% this year and 4.3% next year.  If you look at the historical relationship between world GDP growth and world steel demand growth, the IMF forecast would lead one to expect […]

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Ternium, Gerdau, and Gerdau Ameristeel Q2 earnings

August 11, 2010

Ternium, Gerdau, and Gerdau Ameristeel recently announced Q2 2010 earnings. If you want to read the earnings announcements, I’ve provided links below. Ternium’s press release Gerdau’s press release Gerdau Ameristeel’s press release All three companies reported improved EBITDA per ton in Q2 relative to Q1.  Ternium had the strongest second quarter, reporting EBITDA per ton […]

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ArcelorMittal Q2 financial results

July 28, 2010

ArcelorMittal announced Q2 financial results today.  The press release is here.   EBITDA was $119  per ton in Q2 up from $80 in Q1.   This is the second highest Q2 EBITDA per ton achieved so far among companies tracked on the Nerds of Steel earnings spreadsheet.

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US Steel and AK Steel Q2 2010 results

July 27, 2010

US Steel and AK Steel reported Q2 2010 results today.  US Steel’s press release can be found here and AK’s results are here.  Both companies showed improved EBITDA per ton.  AK’s Q2 EBITDA per ton was $83, up very marginally from $82 in Q1.  US Steel’s improvement was more substantial.  EBITDA per ton rose to […]

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