Why Did CSX’s Metals Shipments Decline In Q1?

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CSX’s metals shipments declined by 18% year-over-year in Q1 this year. This was largely due to a fall in U.S. domestic steel shipments. Competition from cheap steel imports has negatively impacted domestic steel production, as exemplified by the decline in U.S. Steel’s U.S. Flat-rolled shipments. In addition, a decline in oil and gas drilling activity as a result of low oil prices has also adversely affected the production and shipments of tubular steels (which are used in oil and gas drilling) as exemplified by the decline in U.S. Steel’s Tubular Steel shipments.

CSX Decline in Metals Shipments Q1

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Notes:

1) The purpose of these analyses is to help readers focus on a few important things. We hope such lean communication sparks thinking, and encourages readers to comment and ask questions on the comment section, or email content@trefis.com
2) Figures mentioned are approximate values to help our readers remember the key concepts more intuitively. For precise figures, please refer to our complete analysis for CSX

 

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