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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

How long might this recession last?

February 23, 2009

The current economic downturn has wreaked significant havoc on the global economy and on the steel industry.  Not surprisingly we are all wondering “How long will this recession last and how bad will it get?”  Of course, no one knows.  But there are some historical precedents and while history may not provide a clear answer, […]

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Gerdau Ameristeel and Gerdau SA 2008 financial results

February 21, 2009

Gerdau Ameristeel and Gerdau SA released 2008 financial results on February 19.  Gerdau Ameristeel’s results can be found here and Gerdau SA’s here. Both companies’ operating income and EBITDA per ton fell in Q4 relative to Q3.  Gerdau SA’s EBITDA per ton remained solidly positive while Gerdau Ameristeel’s EBITDA per ton fell into negative territory. […]

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ArcelorMittal 2008 financial results

February 11, 2009

ArcelorMittal announced 2008 financial results today.  Shipments in Q4 were 18.7 million net tons, down 33% from Q3.  EBITDA per net ton also fell dramatically, from $304 in Q3 to $149 in Q4. The company expects Q1 2009 shipments of 17.6 to 18.7 million net tons, off only modestly from Q4 2008’s depressed level.   But […]

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European steel production and demand forecast 2009

February 6, 2009

We’re not a forecasting firm, we’re strategy consultants. But lately macroeconomic developments are at the forefront of everyone’s mind, for obvious reasons. So we’ve endeavored to keep you abreast of the latest forecasts and what they might mean for steel production and demand.  In this vein, I received the following question yesterday from one of […]

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2009 GDP forecasts and steel demand growth

February 2, 2009

The International Monetary Fund recently updated its global GDP growth forecast for 2009 and 2010.  Not surprisingly, the growth projections were revised downward.   So I thought I’d take the opportunity to update the graph showing the relationship between global GDP and steel demand and to refine the comments I made in a recent post using […]

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AK, Nucor, Steel Dynamics, US Steel 2008 results

January 27, 2009

Four US-based steel companies announced Q4 and full year 2008 financial results today.  EBITDA and operating income per ton data for the quarter and the year have been added to the Nerds of Steel earnings spreadsheet. If you want to see the earnings announcements click on a company below. AK Steel Nucor Steel Dynamics US […]

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