This Morning in Metals: Nucor reaches deal to buy Arkansas paint line facility

Nucor to buy Arkansas paint line facility

Nucor plans to acquire the Precoat Metals Corporation paint line facility in Armorel, Arkansas, the steelmaker announced recently.
“The paint line facility, located near the Nucor Steel Arkansas sheet mill campus, has a capacity of approximately 250,000 tons per year,” Nucor said in a release. “Nucor considered building a greenfield paint line before deciding to acquire the Precoat Metals facility.”

Constellium reports Q3 financial results

Aluminum product manufacturer Constellium reported Q3 net income of €20 million (U.S. $23.7 million) compared to net income of €1 million ($1.2 million) in Q3 2019.

For the first nine months of 2020, Constellium reported a net loss of €43 million ($51.1 million) compared to net income of €42 million ($49.9 million) in the equivalent period in 2019.
“I am very proud of our third quarter results, including our Free Cash Flow performance of €75 million in the quarter,” Constellium CEO Jean-Marc Germain said. “Packaging & Automotive Rolled Products reported record quarterly Adjusted EBITDA. Aerospace & Transportation maintained a strong focus on costs in the face of difficult market conditions. Automotive Structures & Industry benefited from better-than-expected market conditions and improved operational performance in Automotive Structures. These results further demonstrate the benefits of our end market diversification and our intense focus on costs.”

U.S. HRC rises

Finally, the U.S. hot-rolled coil price closed Thursday at $675 per short ton, up 14.6% from a month ago.
The HRC price has been rising since late August, when the price fell to $454 per short ton Aug. 20.
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