Steel Mills

SDI Expects Lower Shipments and Pricing in Q3
Written by Sandy Williams
September 19, 2019
Steel Dynamics is expecting earnings to drop in the third quarter due to lower profits from its steel operations. Lower scrap prices were not enough to offset lower shipments and declining steel pricing. The steelmaker expects earnings in the range of $0.66 to $0.70 per diluted share compared to $0.87 per share in the second quarter and $1.69 per diluted share in Q3 2018.
Profitability at SDI’s metals recycling platform is also expected to decline due to lower ferrous and nonferrous scrap prices.
Steel fabrication is a bright spot for the company with higher shipments and a steady metal spread. SDI notes strong steel fabrication backlogs and customer optimism regarding nonresidential construction projects.
“Underlying domestic steel demand remains principally intact for the primary steel consuming sectors, with particular strength in construction,” said SDI.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills

Steel Summit: Schneider sees SDI ‘on the edge of a very good run’
Steel Dynamics Inc. (SDI) President and Chief Operating Officer, Barry Schneider, remains bullish about the Fort Wayne, Ind.-based steelmaker’s position in the current market.

Steel Summit: Burritt says USS and Nippon are fast-tracking modern steelmaking
U.S. Steel President and CEO David Burritt told audiences at SMU's Steel Summit 2025 that the iconic American steelmaker’s partnership with Nippon Steel is fast-tracking smarter steel production.

Nucor moves to stop HRC price slide with $10/ton hike
Nucor is attempting to halt the decline in hot-rolled coil prices with the announcement of a $10-per-short-ton increase in its weekly consumer spot price on Monday.

Explosion rocks ArcelorMittal’s DR plant in Mexico
ArcelorMittal reported a "strong" explosion at the direct reduction part of its massive Lazaro Cardenas mill in Mexico.

SDI to acquire remaining stake in New Process Steel
Steel Dynamics Inc. (SDI) announced that it has agreed to acquire the remaining 55% equity interest in New Process Steel.