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
Nucor to Partner with Fusion Company to Power US Mill
Nucor has announced a collaboration with fusion power company Helion to develop a 500-megawatt nuclear fusion power plant.
USW Taps McCall as New President After Conway’s Passing
The United Steelworkers International (USW) executive board on Tuesday appointed David McCall as the union’s new international president. He will fill the remainder of Tom Conway’s term.
USW International President Tom Conway Dies at 71
Tom Conway, international president of the United Steelworkers (USW) union since 2019, has died at age 71.
Stelco Considering Bid for U.S. Steel: Bloomberg
Canadian steelmaker Stelco Holdings Inc. is now in the mix to purchase U.S. Steel, according to an article in Bloomberg on Thursday, which cited people familiar with the matter.
USS Expects Lower Q3 Earnings, Says UAW Strike Partly To Blame
U.S. Steel expects earnings to drop in the third quarter vs. the prior quarter and the same period a year earlier as the company adjusts production because of the United Auto Workers (UAW) union strike.