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
Hot-rolled coil market remains slow, market participants say
Hot rolled spot market participants reported another week of moderate demand and ample supply, with no strong signs that conditions will change next week.
CRU: Blackout knocks out ArcelorMittal mill ‘for months’
Truchas works in Lazaro Cadenas, Michoacan, western Mexico. Repairs may take up to six months.
Nippon Steel posts quarterly loss on cost to buy U.S. Steel
Nippon Steel earnings take hit from buy of U.S. Steel.
Atlas completes Evraz NA deal, renames firm, and hires former USS exec as CEO
Atlas Holdings has completed its acquisition of Evraz North America (Evraz NA) and its subsidiaries.
ArcelorMittal: As tariffs slow global growth, Calvert could be a bright spot
ArcelorMittal expects less demand growth across most of the markets it operates in, including the US, because of President Donald Trump’s tariffs. But the Luxembourg-based steelmaker also thinks it stands to benefit from an increasingly regionalized world thanks to investments like the new EAF at its mill in Calvert, Ala.