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Steel Dynamics, Fort Wayne, Ind., has made a move downstream with the acquisition of 75 percent of the equity interest in United Steel Supply, Austin, Texas. United Steel Supply is a distributor of painted Galvalume flat-roll steel for roofing and siding applications.
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While the market should remain strong for galvanized steel, 2019 is not likely to be as profitable for producers.
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The market for special bar quality metal rebounded last year after underperforming the previous two years. Strong end markets and favorable market conditions carried those gains into 2018, and producers and distributors of SBQ products don’t see the bar lowering anytime soon.
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Steel Dynamics, Fort Wayne, Ind., had created and filled two new leadership positions, and made two other leadership changes.
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Steel Dynamics will build a new 3-million ton capacity flat-roll steel mill in the Southwestern United States. The board of directors for the Fort Wayne, Ind.-based company authorized the move this week.
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Steel Dynamics Inc. reported net income of $398 million, compared with net income of $153 million in the prior-year quarter.
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Liberty Steel Products Holdings, North Jackson, Ohio, has acquired a majority interest in Mississippi Steel Processing, LLC. MSP is a toll processor located on the campus of Steel Dynamics’ Columbus, Miss., flat-roll mill.
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Peter Marcus of World Steel Dynamics projected domestic price for hot-rolled coil will decline precipitously this fall at June’s Steel Success Strategies Meeting in New York.
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Steel Dynamics President and CEO Mark Millett confirmed reports the producer is pursuing an acquisition of the idled Kentucky Electric Steel during SDI’s quarterly conference call. Millett said he would describe the deal as in the “planned acquisition” stage, though that the completion of the transaction was looking favorable.
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World Steel Dynamics is projecting a significant decline in the hot-rolled coil price over the course of the third quarter. Peter Marcus, managing partner of the firm, told attendees at last week’s Steel Success Strategies meeting the price of HRC could fall to about $750 per ton by October, compared with the $980 figure where it was sitting at June’s end.
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Steel Dynamics Inc. will invest $140 million in its Columbus Flat Roll Division, adding a third galvanizing line at the Columbus, Miss., facility.
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Steel Dynamics will acquire Heartland, a flat-rolled steel producer based in Terre Haute, Ind. Heartland is a wholly owned subsidiary of Brazil’s Companhia Siderurgica National LLC. The purchase price was $400 million.
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Steel Dynamics Inc., Fort Wayne, Ind., reported net income of $228 million in the first quarter, an increase of 13.4 percent compared with the same quarter last year. Net sales of $2.6 billion were up 8.3 percent from first-quarter 2017.
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The Chinese steel production industry discovered a novel concept in 2017 – profitability. For years, China has lived by a “Damn the Bottom Line, Full Production Ahead” motto when it comes to steelmaking – an attitude the rest of the world has found kind of troubling, to put it mildly.
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Members of the Association of Women in the Metal Industries peppered Steel Dynamics’ Christopher Stock and Ryerson’s Thomas Endres with questions on the state of the metals industry in a lively discussion in Chicago last month.
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It was a record year for Steel Dynamics Inc. in 2017, with the Fort Wayne, Ind.-based company reaching the high-water mark in sales and shipments.
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Sales up across the board for North America’s producers of steel, aluminum and specialty metals. Sales Up for ATI in Third Quarter Allegheny Technologies Inc., Pittsburgh, reported third-quarter sales of $869 million, an increase of 12.7 percent from the same quarter in 2016, but down 1.2 percent from the prior quarter.
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The first decline in auto auto shipments in years was offset by gains in other sectors, leading to a mixed bag year for carbon flat-roll products. The outlook for 2018 is equally uncertain. The carbon flat-roll market has been on shaky ground in 2017.
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