Despite import headwinds, SDI upbeat on 2014 steel demand
Jan 28, 2014 | 05:23 PM
| Corinna Petry
CHICAGO Although Januarys extreme cold and snow have slowed operations ranging from iron production to scrap generation, leaders of Steel Dynamics Inc. (SDI) expressed confidence that the company will have a positive year in terms of output, revenue and profitability.
The Fort Wayne, Ind.-based producer will invest between $125 million and $150 million on capital projects this year. This is less than in past years, when the company had expanded iron production, as well as bar, beam and rail production.
Automotive and energy demand will continue to be robust, president and chief executive officer Mark D. Millett said during a Jan. 28 conference call with equities analysts. Backlogs and order rates for beams, joists, merchant bar and other construction productsalong with anecdotal observations about the number of cranes rising over U.S. municipalitieshave persuaded Millett and his leadership team that nonresidential construction activity will gain ground this year.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.