Steel Products
Steel Dynamics Expecting a Flat Q1
Written by Sandy Williams
March 21, 2013
Written by: Sandy Williams
Steel shipments will be flat in the first quarter compared to the fourth quarter of 2012 said Steel Dynamics in its first quarter 2013 earnings guidance. Galvanized sheet volume is projected to decrease but be offset by increases in long product shipments, including SBQ, standard railroad rail and wide flange products.
Higher shipping volumes in metal recycling will be offset by decreased margins in the first quarter. Fabrication operations are expected to be profitable for its fifth consecutive quarter said Steel Dynamics—a possible indication of improvement in nonresidential construction.
In its economic outlook Steel Dynamics added that the residential market is stronger along with the automotive and manufacturing markets. First quarter earnings are expected in the range of $0.17 to $0.21 per diluted share ($0.20 per diluted share in Q1 2012).
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products
Tariffs, ample domestic supply cause importers to shift or cancel HR import orders
Subdued demand is causing importers to cancel hot-rolled (HR) coil orders and renegotiate the terms of shipments currently enroute to the US, importers say. An executive for a large overseas mill said customers might find it difficult to justify making imports buys after US President Donald Trump doubled the 25% Section 232 tariff on imported steel […]
Drilling activity slows in the US, grows in Canada
Oil and gas drilling activity was mixed this week, according to Baker Hughes. US totals slipped for a sixth straight week, while Canada saw a slight bump in activity.
Commerce finds no Korean OCTG shipments below market value
US Department of Commerce (Commerce) review found no South Korean oil country tubular goods (OCTG) exporters or producers sold products below market value
Drilling activity slows further in US and Canada
Oil and gas drilling activity declined again this week in both the US and Canada, according to Baker Hughes.
SMU Community Chat: Zekelman calls for more support for steel consumers
“Unless the administration actually gets serious about levelling the playing field… for consumers of steel, then everything they've done on the steel side is useless."