Mike Miazga 2013-10-12 06:24:54
Metals shipments decline in August From the Metals Service Center Institute, U.S. and Canadian shipments of both steel and aluminum in August returned to the year-over-year trend that was experienced earlier in 2013 in contrast from modest growth displayed in July. U. S. service center steel shipments in August decreased by 0.6% from August 2012. Steel product inventories decreased 11.3% from August 2012. At the current shipping rate, this represents a decrease of 10.8% from a year ago. U.S. service center shipments of aluminum products decreased by 0. 8% in August compared with the same period in 2012. Inventories of aluminum products decreased 4.1% from August 2012. Canadian service center shipments of steel products in August decreased by 6.8% from August 2012. Steel product inventories decreased 14.4% from August a year ago. At the current shipping rate, this represents a decrease of 8.2% from a year ago. Canadian service center aluminum shipments in August decreased 5.1% from August 2012 levels. Inventories of aluminum products decreased 8.6% from August 2012. The August performances are lower than July levels. In July, U.S. service center steel shipments increased by 5.3% from July 2012 and steel product inventories decreased 1. 3% from June 2013 levels. U.S. service center shipments of aluminum products increased 5.7% from the same month in 2012. Inventories of aluminum products increased 0.1% from June 2013. In July, Canadian service center shipments of steel products decreased 2.4% from July 2012, while steel product inventories decreased 1.5% from June 2013 levels. Canadian service center shipments in June 2013 decreased 0.3% from June 2012 levels, while inventories of aluminum products in July increased 0.4% over June 2013 totals. 2014 PVF Roundtable meeting dates set The PVF Roundtable will once again meet four times in 2014 at the JW Marriott in Houston. The events, which bring together individuals from the industrial pipe, valves and fittings sector for an evening that features networking, dinner and insight from a variety of guest speakers, will take place Tuesday, Feb. 18, Tuesday, May 20, Tuesday, Aug. 19 and Tuesday, Oct. 21. The May meeting is held in conjunction with the annual Don Caffee Memorial Golf Tournament, which helps raise funds for industrial distribution scholarships. For more information on the PVF Roundtable, visit www.pvf.org. MRC Global announces second quarter results MRC Global had sales of $1.268 billion in the second quarter of 2013, a decrease of 11% from the second quarter of 2012 due, in part, to a planned reduction in the company’s lower margin oil country tubular goods business. OCTG represented 9% of total sales in the second quarter of 2013 compared to 14% of total sales a year ago. Continued weakness in the company’s line pipe product group within the midstream and upstream sectors also impacted sales. Line pipe sales were $231.1 million for the second quarter of 2013 compared to $294.4 million for the same period in 2012. Net income for the second quarter of 2013 increased 14% to $43.9 million. The refinancing of the company’s senior secured notes in November 2012 contributed to lower interest expense in 2013. “While our revenues reflect reduced upstream and midstream customer spending primarily in the U.S., our efforts to improve operating margins and our fourth-quarter 2012 debt refinancing actions to lower our interest costs are resulting in net income and earnings-per-share improvements,” MRC Global Chairman, President and CEO Andrew Lane said. “In addition, we are executing on our growth strategy through the previously announced acquisition of Flow Control Products in the Permian Basin and the announcement and implementation of new contracts with NiSource and Celanese during the quarter.” In other MRC Global news, Alan Colonna has assumed the role of executive vice presidentbusiness development and U.S. operations, while Gary Ittner has assumed the role of executive vice president-supply chain. The company also announced Executive Vice President-COO U.S. Operations and former CFO James Underhill is retiring after 33 years of service to the company in various operational and financial leadership roles.
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