ATI expects shipment delays until 2020
Pittsburgh-based Allegheny Technologies (ATI) expects its volumes to increase in the first half of 2020, after customers delay shipments of jet engine materials and components in the fourth quarter.
Shipments are projected to slide in the final quarter of 2019 because of uneven customer patterns in light of the B737 MAX slowdown and LEAP engine programs, despite strong backlogs.
Alloy shipments totaled 186.1mn lbs in the quarter ended 30 September, up from 184.2mn lbs in the same period a year earlier.
Third quarter revenues were little changed at $1.02bn. ATI's profits rose to $110mn compared with $50.5mn a year earlier, because of income tax valuation allowances.
ATI's high performance materials segment sales, excluding the recently divested titanium investment castings and industrial forgings businesses, increased by 2pc from a year ago.
Aerospace and defense represented 79pc of high performances materials and components sales in the third quarter.
Sales from the flat rolled products (FRP) segment were up by 7pc to $467mn compared with the third quarter 2018. FRP sales to the oil & gas and aerospace & defense markets continued to grow and were nearly 45pc of third quarter of sales.
ATi is a global manufacturer of specialty materials and complex components for aerospace and defense, oil and gas, electrical energy, medical, automotive and other industrial markets.
source: Argus Media
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
