Steel Mills
SDI: Shipments Improve in Q1
Written by Sandy Williams
March 18, 2018
Steel Dynamics expects stronger results in the first quarter based on higher shipments and metal scrap expansion. Steel pricing is expected to more than offset scrap costs during the quarter. Steel pricing has been supported throughout the first quarter by robust demand, said SDI.
“Based on strong steel demand fundamentals and customer optimism, the company believes this pricing momentum and improving steel consumption will continue during the year,” wrote SDI in its first-quarter earnings guidance. “The company also believes that recent U.S. federal administration steel trade actions will result in reduced imports.”
SDI’s metal recycling platform is seeing higher shipments this quarter as a result of increased steel demand.
Earnings from the company’s steel fabrication business are expected to be somewhat lower than the fourth quarter due to seasonally lower shipments. Order backlog, however, is strong and demand from the nonresidential construction sector remains solid, said SDI.
Sandy Williams
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