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Lehner embraces change on the way to transforming the industry’s oldest business into a model for the next 178 years.
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Steel Dynamics Inc., Fort Wayne, Ind., reported net sales of $2.3 billion in the third quarter, bouncing back from the previous quarter but still below the same quarter in 2019. Net sales were down 7.8 percent from third-quarter 2019, but up 11.2 percent from the prior quarter.
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Over the course of just six months, Cleveland-Cliffs has become the largest integrated steelmaker in the United States. The steelmaking raw material supplier followed up its earlier acquisition of AK Steel with Monday’s blockbuster $1.4 billion purchase of ArcelorMittal USA’s assets.
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Two years ago, the only number that mattered to the North American metal production community was 232. Today, it’s 19.
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JM Steel, a JENNMAR affiliate, will expand its footprint outside the Southeast with construction of a facility near Steel Dynamics’ new mill in Sinton, Texas. SDI is building a 3 million-ton mill with “next generation: EAF technology, expected to open in 2021.
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Steel Dynamics, Fort Wayne, Ind., reported first-quarter sales of $2.6 billion, a decline of 7.1 percent from the same quarter in 2019. Sales were 8.3 percent higher than the prior quarter.
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Steel Dynamics reported net income of $671 million in 2018, well short of the company’s record $1.3 billion in income in 2018. Net sales for the year declined 11 percent to $10.5 billion.
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The steel industry has struggled to keep pace with other sectors when it comes to adopting new technologies, but that is finally starting to change.
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One of the recurring topics at the recent Steel Summit from Steel Market Update was U.S. Steel Corporation’s recent announcement it would stop offering index-based pricing to its contract customers in 2020.
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One of the recurring topics at the recent Steel Summit from Steel Market Update was U.S. Steel Corporation’s recent announcement it would stop offering index-based pricing to its contract customers in 2020.
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Following a robust 2018, tariffs and other concerns have led to a more muted performance for prepainted steel, while coated aluminum has fared better.
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Steel Dynamics has selected a Sinton, Texas, site for its new $1.7 million flat-rolled steel mill. The facility will be located in the Corpus Christi region. SDI had previously narrowed its site selection to five locations in Texas and Louisiana.
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Steel Market Update, in conjunction with Steel Manufacturers Association, will celebrate young emerging leaders in the steel and manufacturing industries by honoring a deserving individual with the inaugural SMU NexGen Leadership Award. SMU is currently accepting nominations for the recognition, which will be awarded during SMU’s 2019 Steel Summit Conference, set for Aug. 26-28 in Atlanta.
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Steel Dynamics, Inc., Fort Wayne, Ind., reported first-quarter net sales of $2.8 billion, a 7.7 percent increase compared with the same quarter in 2018. Net income declined 10.5 percent to $204 million.
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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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