Steel Dynamics Inc. remains optimistic about its prospects as it ramps up flat-rolled steel operations and prepares for the production of aluminum products next year. Executives from the Fort Wayne, Ind.-based steelmaker provided an update on the company’s operations on a conference call on Thursday held to discuss SDI’s third-quarter earnings results.
Steel Dynamics Inc. (SDI) reported a drop in third-quarter profits driven largely by lower flat-rolled steel prices. The Fort Wayne, Ind.-based electric arc furnace (EAF) steelmaker also saw scrap prices slip. That happened because of softer demand from domestic mills taking planned maintenance outages.
Steel Dynamics Inc. (SDI) has become the world’s first steel producer with carbon targets certified by the Global Steel Climate Council (GSCC).
On Thursday, the Department of Commerce announced it would initiate investigations into coated steel imports from ten countries.
Steel Dynamics Inc. (SDI) expects lower third-quarter earnings on the heels of “meaningfully lower” prices at its flat-rolled steel operations. The Fort Wayne, Ind.-based steelmaker expects Q3’24 earnings of $1.94 to $1.98 per diluted share, according to figures released on Monday. That’s down from $2.72 per share in Q2’24 and down from $3.47 per share in Q3’23.
Whether as a guitar player in a rock and roll band or as a high-powered executive at Steel Dynamics Inc. (SDI), it’s all about the team for SDI’s Barry Schneider.
Nearly 1,200 people have registered for SMU Steel Summit, which is less than a month away now. That means we’re still on pace to meet or exceed last year’s record attendance despite a tough flat-rolled steel market over the last few months. So, a big thank you to everyone who already plans to go for your continued support. If you haven’t booked travel yet, don’t miss out on one of the greatest shows in steel – register here. (You can also check out the latest agenda here.)
Operating income from Steel Dynamics Inc.’s (SDI) recycling operations clocked in higher in the second quarter than in the first on increasing volumes and despite lower realized pricing. Recycling operations brought in $32.1 million, an increase over $22.6 million in Q1, but lower than the $40.3 million last year, the Fort Wayne, Ind.-based company said […]
I thought we’d have more clarity this week on Section 232, Mexico, and a potential carve-out for steel melted and poured in Brazil. As of right now, the only official comment I have is from the Office of the United States Trade Representative (USTR).
Steel Dynamics Inc. executives provided further insight into operations at the company’s Sinton, Texas, flat-rolled steel mill on a second-quarter earnings conference call on Thursday morning. Despite a series of start-up woes, the company recently commissioned two new coating lines there, and the mill continues to ramp up production. The execs were also bullish on […]
Steel Dynamics Inc.’s (SDI’s) earnings slid in the second quarter, but the company's top executive believes steel tags are set to rise.
Flat-rolled steel prices have been largely falling since the beginning of the year. Even after a slight bump in early April when mills tried to halt the downtrend, the decrease resumed.
Antidumping and countervailing duties (AD/CVDs), in place for more than twenty years on imports of hot-rolled (HR) steel from six countries, are up for their fourth sunset review.
Nearly 800 people have registered to attend Steel Summit on Aug. 26-28 at the Georgia International Convention Center (GICC) in Atlanta.
Steel Dynamics Inc.’s (SDI’s) top executive Mark D. Millett has received the 2024 Willy Korf/Ken Iverson Steel Vision Award.
Steel Dynamics Inc. guided to significantly reduced second-quarter earnings as its steel operations have taken a hit from lower prices.
We’ve been writing a lot about sheet prices, and those for hot-rolled (HR) in particular, coming down. Here's one thing that hasn't dropped: The wide spread between HR and cold-rolled (CR) prices. That's what's in a chart below. And I'm using it as a rough proxy for galv and G'lume base prices as well
Steel 101 The final countdown to our Steel 101 course has arrived. Held in Fort Wayne, Ind., on June 11-12, all the main ins and outs of steelmaking will be covered. And there will be a tour of SDI's Butler mill. You can still register here or reach out to us at events@steelmarketupdate.com.
It feels like the summer doldrums arrived a little earlier than usual this year. I know there had been rumors of a price hike. The prospect of a sharply lower June scrap trade probably didn't help the chances of that actually happening.
There seems to be more question than usual about which way prices will go over the next few weeks. There is talk in some corners that Nucor’s announced $760 per short ton (st) for HR through mid-May, and subsequent increases marked a public attempt to call a price bottom. (Our price announcement calendar here is […]
We have highlighted a few significant moment in steel history in our last few Final Thoughts crosswords. This week we decided to dedicate the entire crossword to history.
From integrated to EAF, from hot-dipped galv to cold-rolled sheet, to the reputable vacuum tank degasser, the steel industry definitely has its own jargon. And we know our readers know that lingo backwards and forwards. Rather than test you on it, we thought we'd do something different.
Our spot price is little changed this week after moving sharply lower last week on the heels of Nucor’s unexpected price cut. Here’s one thought on that trend: Nucor's weekly HR price (aka, its “Consumer Spot Price” or CSP) has to date functioned almost more like a monthly price.
Wolfe Research Managing Director Timna Tanners cautioned clients about the darkening clouds of a brewing steel sheet storm in the company's Basic Materials Weekly Webcast on Monday. “This one we’ve been talking about for a while, and we feel like the theme is coalescing here,” she said.
The Inflation Reduction Act (IRA) appropriated more than $4 billion to the General Services Administration (GSA) and Federal Highways Administration (FHWA) for “Buy Clean” programs. The statute makes clear that GSA and FHWA purchases under these programs are limited to those with “substantially lower” emissions. There is no ambiguity in that requirement. The Environmental Protection Agency (EPA) has defined “substantially lower” to mean products with the lowest 20% of embodied emissions when compared to similar materials.
Last week we wrote about a brief lull in price movement, labeling it a period of wait and see. It did, in fact, turn out to be pretty brief. This week... things are little bit different. Perhaps right now we are more in a period of "hope and pray" or "Here we go, hold on to your hats."
Thyssenkrupp Materials Services is continuing its expansion in North America. It announced the opening of a new steel service center in Sinton, Texas, to primarily serve the automotive, HVAC, and construction markets.
United Steel Supply plans to invest up to $10 million to open a steel processing and painting facility at the Ports of Indiana-Jeffersonville near Louisville, Ky.
Is it just me, or does it seem like the summer doldrums might have arrived a little early? I could be wrong there. It’s possible we could see a jump in prices should buyers need to step back into the market to restock. I’ll be curious to see what service center inventories are when we update those figures on May 15. In the meantime, just about everyone we survey thinks HR prices have peaked or soon will. (See slide 17 in the April 26 survey.) Lead times have flattened out. And some of you tell me that you’re starting to see signs of them pulling back. (We’ll know more when we update our lead time data on Thursday.)
Everybody has a plan… until they’ve dealt with volatility in the HRC market. While Mike Tyson’s original quote was about getting punched in the mouth, it’s unlikely the ex-champ has gone many pricing rounds with hot-rolled coil.