SDI expansions, products bolster outlook
Jul 18, 2013 | 04:49 PM
| Catherine Ngai
NEW YORK Steel Dynamics Inc. (SDI) is forecasting growth ahead, citing a number of planned expansions slated to be completed in the fourth quarter coupled with improving construction and housing data, according to its top executive.
The Fort Wayne, Ind.-based steel producer, whose second-quarter net income plunged 34.9 percent from the same year-ago period, cited a challenging finished steel sector, among other reasons, for the difficulty experienced in the quarter (amm.com, July 17). But, even so, the finished steel segment has a lot of upside in the future.
"I think the (sheet) market is certainly firming and solid where it is and should remain stable there," president and chief executive officer Mark Millett said during an earnings call July 18. "I think obviously the market will dictate pricing going forward ... but certainly the current market would suggest that things are stable and slightly up for the rest of the year."....
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