Market Segment
June 16, 2022
Written by David Schollaert
Steel Dynamics Inc. (SDI) expects its best second-quarter earnings to date for the three-month period ended June 30. Record results are projected despite lower average flat-rolled steel selling prices.
The Fort Wayne, Ind.-based steelmaker expects earnings of $6.66-6.37 per diluted share in the second quarter, according to guidance figures released on Thursday, June 16.
Canton, Ohio-based specialty metals manufacturer Metallus has been awarded a contract valued at up to $995 million by the US Defense Logistics Agency (DLA), part of the Department of War.
U.S. Steel is investing $28.3 million in its Great Lakes Works in Michigan, with upgrades planned for its pickle line during a 30-day outage starting in October.
The result comes after Mexico’s Ministry of Economy completed a five-year sunset review of the anti-dumping duty (AD) order on imports of hot-rolled (HR) sheet from Russia and Ukraine.
President Trump said a trade deal with Canada could come within the next few weeks.
Mexico's Construcciones e Ingenierías Electromecánicas SA de CV (CIESA) has emerged as the leading bidder for the assets of bankrupt steelmaker Altos Hornos de México (AHMSA) and its mining subsidiary Minera del Norte (MINOSA). The Michoacán-based engineering and construction company offered $1.4 billion in a court-supervised bankruptcy auction held Sept. 25.