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
Primetals to replace two EAFs at US mill
Primetals Technologies will be replacing two electric-arc furnaces at a steel mill in the US with one more energy-efficient furnace.
Nippon’s Mori meets with Pa. Gov. Shapiro: Report
Nori, a top Nippon Steel official, met on Tuesday with Pennsylvania's governor, to discuss its proposed acquisition of U.S. Steel.
Nippon won’t import slabs to US if U.S. Steel deal goes through
Nippon Steel has affirmed that if its $14.9-billion bid for U.S. Steel proves successful, the Japanese steelmaker will not import overseas-produced slabs to the US.
AISI: Raw steel production falls to 5-week low
Domestic raw steel mill production slipped to a five-week low last week, according to the latest figures released by the American Iron and Steel Institute (AISI). Weekly production is now at the third-lowest level recorded this year.
Nucor maintains HR price at $750/ton
Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil was unchanged week on week (w/w) at $750 per short ton (st) on Monday, Nov. 18.