Steel Mills
SDI Commissions Sinton Hot Strip Mill: CEO
Written by Michael Cowden
January 19, 2022
Steel Dynamics Inc. (SDI) has commissioned the hot strip mill at its $1.9 billion steelmaking complex in Sinton, Texas, the company’s top executive said.
“Both coating lines are running well. The hot strip mill has been commissioned using purchased slabs. The last component is the caster, which is in the home stretch,” SDI President and CEO Mark Millett told Steel Market Update.
Additional detail will be provided when the Ft. Wayne, Ind.-based steelmaker releases fourth-quarter earnings results next week.
SDI will publish results after the close of markets on Monday and hold an earnings conference call on Tuesday morning.
The company’s release kicks off earnings season for North American flat-rolled steelmakers. Charlotte, N.C.-based Nucor Corp. and Pittsburgh-based U.S. Steel will release earnings later in the week followed by Cleveland-Cliffs in February.
The Sinton mill is expected to have annual capacity of 3 million tons. But it is not expected to reach its full run rate until the middle of 2022. Shipments this year are expected to be approximately 2 million to 2.2 million tons.
It will offer a full range of hot-rolled, pickled-and-oiled, cold-rolled and coated products – including not only hot-dipped galvanized and Galvalume but painted material as well.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
Read more from Michael CowdenLatest in Steel Mills
Despite trade chaos, Barry Schneider upbeat on SDI, steel
With 30 years of experience at Steel Dynamics, Barry Schneider reflects on the company and the state of the steel industry.
Algoma Steel seeks CAD$500M in operational support
Algoma Steel applied to Canada’s federal Large Enterprise Tariff Loan (LETL) program for $500 million to support its long-term operations.
SDI concerned with potential Brazil pig iron tariffs
Steel Dynamics Inc. (SDI) executives called a 50% tariff on Brazilian pig iron “concerning,” but think tariffs will be a “mainstay” of trade agreements going forward.
SDI earnings slip in Q2 as trade volatility hits customer orders
SDI profits slipped in second quarter amid trade policy volatility.
Cliffs puts ‘for sale’ signs up after another big quarterly loss
Cleveland-Cliffs lost more than $400 million for the third consecutive quarter but predicted results would improve in the second half of the year. And shares of the Cleveland-based steelmaker surged after company executives said during its Q2 earnings call on Monday that they could make billions by courting foreign investors or selling assets.