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
Read more from Sandy WilliamsLatest in Steel Mills
Cleveland-Cliffs quietly removes name from Steelton mill
The Cleveland-Cliffs name has been removed from its idled Steelton rail mill. SMU asked Cliffs about the move and if it might signal that it is selling the mill...
Nucor sees sequentially lower Q3 profits across all three business segments
Nucor's third-quarter earnings will be down quarter-over-quarter, but still higher than a year earlier.
Hyundai still on for Louisiana steel mill despite US raid at Georgia battery plant
Hyundai has reaffirmed its commitment to build a steel plant in Louisiana following a US government immigration raid at its battery facility in Georgia.
Hybar lowers output forecast, owning up to EAF startup delay
Hybar LLC’s rebar mill in Osceola, Ark., is now melting scrap and will soon be fulfilling orders, according to CEO David Stickler, despite a six-to-eight-week delay caused by commissioning the world’s first Aura electrical system.
Steel Dynamics guides to more metal, more money in Q3
Steel Dynamics Inc. is bullish heading into the close of the third quarter, with all three of its operating segments tracking higher.