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.
We just wrapped up another Steel 101 workshop, easily the most hands-on industry workshop on steelmaking and market fundamentals, in this humble opinion. Last week on Tuesday and Wednesday, SMU’s Steel 101 was held in Starkville, Miss.
The United Kingdom and other countries are using the “green” label to subsidize bailouts of obsolete, inefficient, and excess capacity that should exit the market. US steelmakers have invested billions of dollars in technologies that curb greenhouse gas output. These investments have been market-based and led by EAF producers such as Nucor, Steel Dynamics, and CMC.
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 […]
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.
There are just 40 days left until the 2024 SMU Steel Summit gets underway on Aug. 26 at the Georgia International Convention Center (GICC) in Atlanta. And I’m pleased to announce that it's official now: More than 1,000 people have registered to at attend! Another big development: The desktop version of the networking app for the event has officially launched!
Three steel trade groups and United Steelworkers (USW) union held an event on Capitol Hill urging action on strengthening legislation against unfair trade.
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.
Friedman Industries reported lower earnings in its fiscal fourth quarter, and the company expects first-quarter margins to be lower than Q4 margins due to declining HRC prices.
Now that June has arrived, the official countdown until SMU’s Steel Summit 2024 – North America’s premier flat-rolled steel conference – has begun. If you haven’t already registered, don’t delay. More than 700 attendees from more than 300 companies have already registered to be in Atlanta this August. In short, it’s poised to be another […]
We’re just a few months away from SMU’s Steel Summit 2024 – North America’s premier flat-rolled steel conference.
Nucor’s Consumer Spot Price (CSP), a legitimate mill offer price, is a potential disruptor to North American steel sheet commercial and procurement strategies. We will dive into the details of what we think the CSP is and why we believe it is a potential disruption to how the North American sheet market operates.
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.
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.
Hybar has big plans for entering the American steel market. Although it is the newest player in the US rebar market, the startup is led by an experienced, nimble, and ambitious team, and backed by investors with deep pockets. Industry titan and Hybar CEO David Stickler joined SMU Managing Editor Michael Cowden on Wednesday’s Community Chat to update the SMU community on the company’s first mill, and its grand plans for the future.
What a difference a month makes. In late March, it seemed like the US hot-rolled (HR) coil market was poised to cycle upward. Large buyers had re-entered the market and placed big orders earlier in the month. Several outages were underway or upcoming. And expectations were that lead times would continue to extend. Cliffs said […]
I’ve gotten some questions lately about whether the huge gap between domestic hot-rolled coil (HR) prices and those for cold-rolled (CR) and coated is sustainable. I remember being asked similar questions about the wide spread between HR and plate that developed in early 2022. I thought at the time that there was no way that spread could hold. Turned out, I was wrong. That was humbling. And so I’m not going to make any bold predictions this time.
Steel Dynamics Inc. (SDI) executives said the company's Sinton, Texas, sheet mill should be able to increase melt capacity after an outage earlier this month. Sinton should see "additional improvements in production" after taking "several maintenance days in April," Barry Schneider, SDI president and COO, said in a Q1 earnings conference call on Wednesday.
Steel Dynamics Inc.'s (SDI's) earnings fell in the first quarter of 2024 as the company cited steel order volatility early in the quarter and lower scrap prices.
OnmiSource LLC, a subsidiary of Fort Wayne, Indiana-based steel producer and recycler, Steel Dyanmics, Inc., has acquired Toledo Shredding, LLC, in Ohio.
The US Department of Commerce’s International Trade Administration (ITA) has revised upwards the antidumping duty (AD) rates on imports of cold-rolled steel flat products from two South Korean producers.
Steel Dynamics Inc. (SDI) has announced new roles for current executives James Anderson and Chad Bickford. SDI said James Anderson will take over responsibility and oversight for the company's long products group, effective May 1.
Strength in its flat-rolled steel operations is pushing Steel Dynamics Inc. (SDI) to guide to higher sequential earnings in the current quarter.