SDI expects a drop in 4th-qtr. sheet earnings
Dec 16, 2011 | 02:26 PM
| Anne Riley
Tags
SDI,
steel,
flat-rolled sheet,
earnings guidance,
Anne Riley
NEW YORK — A pullback in sheet demand and prices kept Steel Dynamics Inc. (SDI) under pressure throughout much of the fourth quarter, resulting in an anticipated 25-percent drop in flat-rolled earnings and weighing on overall results.
"Flat-rolled demand during October and the first part of November was weaker, and early-in-the-quarter pricing remained a challenge, reducing anticipated volumes," the Fort Wayne, Ind.-based steelmaker said Friday. "Additionally, the cost of raw materials consumed did not decline in step with realized flat-rolled steel prices, which resulted in reduced fourth-quarter anticipated margins."....
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