Steel Mills
SDI Sees Improvement in Construction Sector
Written by Sandy Williams
June 17, 2014
Steel Dynamics Inc. (SDI) expects higher profits in second quarter compared to first quarter 2014. In its Second Quarter Earnings Guidance, SDI said steel shipments and metal spreads are improving despite increased import activity.
SDI anticipates demand from automotive, manufacturing and construction will continue to trend upward. Residential construction has rebounded with the return of warmer weather. Demand for SDI’s structural steel and fabricated steel joist and decking is seen as an indicator of growth in the nonresidential sector. Higher profits in the company’s fabrication operations are expected for second quarter based on improved volume and margins.
Shipments of scrap materials more than offset lower selling values and is expected to improve sequential financial results for SDI’s metal recycling operations.
The company declared a quarterly cash dividend of $0.1150 per common share.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
August US mill shipments slip but still higher than last year
The American Iron and Steel Institute reported a decline in the monthly shipments of US mills from July to August.
TransPod, Algoma, Supreme Steel linkup anchors Canadian steel in high-speed transit build
The three Canadian companies have announced a strategic partnership to support the development of an ultra-high-speed transit line from Edmonton to Calgary.
Metallus, USW agree to tentative four-year labor deal
Metallus and the United Steelworkers (USW) have agreed to a tentative four-year labor contract.
ArcelorMittal Dofasco resumes cokemaking after emergency maintenance
The Canadian steelmaker reported on Sept. 30 that “urgent maintenance” was needed in its coke plant off-gas systems. The work required coke oven gas from the No. 2 coke plant to be flared for most of that week.
AISI: Raw steel production ticks back down
US raw steel output declined last week after increasing the week prior, according to the latest data from the American Iron and Steel Institute (AISI). Output has see-sawed from week to week since mid-August. Still, it has remained historically strong over the past four months and has held near multi-year highs since June. Domestic mills […]