Market Segment
January 25, 2024
Written by Ethan Bernard
Steel Dynamics Inc. (SDI) executives said the company’s Sinton, Texas, flat-rolled steel mill is now EBITDA positive.
“Sinton was showing significant operating improvement and was EBITDA positive in December, with a clear path to profitability in the first quarter of 2024 and thereafter,” Mark Millett, SDI’s co-founder, chairman, and CEO, said in a Q4’23 earnings call on Wednesday.
SMU’s latest Flat-Rolled Steel Buyers Survey shows that in a tight US market marked by long lead times, low inventories, and rising prices, foreign products continue to gain the interest of domestic buyers.
Domestic raw steel output fell to a six-month low last week after hitting a multi-year high one week earlier, according to the latest American Iron and Steel Institute (AISI) figures.
The proposed Hyundai-POSCO steel mill in Louisiana has been approved for up to $1.3 billion in bond financing, according to state records and local media reports.
The United Steelworkers (USW) union plans to extend its current labor contract with U.S. Steel and Cleveland-Cliffs by 48-hours on a rolling basis, the union told SMU on Monday.
Nucor said on Monday, Sept. 21, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,210 per short ton (st) this week, a $10/st increase from a week earlier.