Steel Mills
SDI Cautiously Optimistic on Nonresidential Construction
Written by Sandy Williams
September 19, 2013
Steel Dynamics offered guidance on Tuesday saying it anticipates a better third quarter as compared to the second quarter due to increase in shipments and average metal spread (spread being the difference between steel costs and selling prices). In the sheet steel segment higher volumes and better spread increased profits, while in the long products division higher volume offset metal spread decline from decreased product pricing.
Automotive and manufacturing are strong markets for the company. Improvement of the residential construction market has increased demand for painted and Galvalume sheet products. SDI remains cautiously optimistic on nonresidential construction as orders for construction related products pick up, including structural and fabricated steel products.
Metals recycling shipments were higher in the third quarter but profits are expected to be offset by lower ferrous margins. Losses from the Minnesota Operations due to installation of new equipment in April will continue to be felt in the third quarter. Production rates at the operations are continuing to improve.
The company will pay shareholders a quarterly cash dividend of $0.11/share as of September 30, 2013.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
USW seeks clarity on USS plans for Granite City Works
The United Steelworkers union has asked U.S. Steel to elaborate on its Granite City Works plans following reports that the steelmaker is ending processing at the facility.
Nucor maintains plate prices, opens October order book
Nucor aims to keep plate prices flat for a seventh straight month with the opening of its October order book.
ArcelorMittal Mexico to import from sister mills as it works to resume DRI production
ArcelorMittal has partially restarted operations at its direct reduction plant in Lazaro Cardenas, Michoacan. An explosion on Aug. 18 rocked the massive steelworks on Mexico’s Pacific coast, impacting production of direct-reduced iron (DRI).
Fall maintenance outages are coming in hot
Labor Day has passed, the sun is starting to set a little earlier each day, and cooler weather has begun to find its way down to many of us across North America. And you know what that means for the steel industry… Fall maintenance outages!
AISI: Domestic steel production ticks up
US raw steel production ticked up in the week ending on Sept. 6 after a decrease the week before, according to the most recent data from the American Iron and Steel Institute (AISI).