CMC Poland’s shipments declined -9% on-year in the three months through November 2015, or first fiscal quarter 2016 (FQ1), to 278,000 short tons. The value of these sales declined more steeply, by -32% to $120.45 million, Kallanish learns from US-based parent company CMC.

The Polish mini-mill’s average fob selling price in FQ1 was down $138 on-year to $408/st, while average cost of scrap consumed was down $107 to $314/st – average scrap purchase price was $166/st. This means metal margin narrowed to $201/st from $232/st in the year-earlier quarter.

Excluding billet, the producer saw shipments decline less steeply in FQ1, by -1%. Adjusted operating profit fell -33% on-year in the quarter to $2.8 million.

In its fiscal year through August 2015 electric arc furnace-based CMC Poland, which produces up to 1.9 million metric tonnes/year of rebar, wire rod and merchant bar, shipped -5% less steel products on-year at 1.23 million short tons. Net sales were down -24% to $626.3m and adjusted operating profit plunged -43% to $30.6m.

The firm’s chief executive, Jerzy Kozicz, recently said Europe should make its antidumping investigation process more similar to that in the US, where it is far quicker and less bureaucratic (see Kallanish 2 December 2015). China, meanwhile, should not qualify for market economy status, he added.