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
 
		                                Ternium swings to Q3 loss, eyes 2026 recovery
Ternium closed the third quarter with steady shipments and improving margins. But trade policy uncertainty and subdued demand in Mexico weighed on the Latin American steelmaker’s results.
 
		                                Algoma’s losses widen in Q3 as tariff troubles continue
Algoma Steel’s net loss more than quadrupled in the third quarter on trade woes and its EAF transition. Separately, the company announced a change in leadership, as CEO Michael Garcia will retire at the end of the year.
 
		                                Cliffs, POSCO announce MoU for ‘transformative’ partnership
Cleveland-Cliffs on Thursday said it had signed a memorandum of understanding (MoU) with POSCO to forge a strategic partnership, one Cliffs bills as "transformative."
 
		                                Cliffs touts steel stamping solution to replace aluminum in automotive
Cliffs said it successfully completed a defect-free trial production of exposed steel parts using aluminum-forming equipment in collaboration with an unnamed OEM,
 
		                                Nucor navigates mixed flat-rolled markets with strategic muscle
Nucor entered the fourth quarter with clear forward momentum: stronger-than-expected results, solid sheet and plate demand, and construction progress on a major new mill that should add capacity next year.
