SDI CEO: Steel Price Correction 'Natural', Moderate Rebound Possible

The ongoing correction in steel prices is not a reflection of demand, which is strong now and is expected to remain so for the balance of 2022, Steel Dynamics Inc. (SDI) executives said.

Hot-rolled coil prices are roughly in line with published price ranges of $1,300-1,400 per ton ($65-70 per cwt), although a limited number of larger spot orders can be secured at lower figures, SDI President and CEO Mark Millett said during an earnings conference call on Tuesday, Jan. 25.

Michael Cowden

Michael Cowden is editor-in-chief for Steel Market Update. Cowden has covered the steel industry since 2007. He specializes in flat-rolled steel but has also reported on steel long products, steel pipe and tube, and aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.