语言:中文
 
 
Home
Overview   |    Products and Services    |    News   |    Forum   |    Chinese Steel Weekly   |    China Steel Report   |    Contact Us

此页面上的内容需要较新版本的 Adobe Flash Player。

获取 Adobe Flash Player

    > China Metallurgical Planning Net > News > Industrial News
 
Higher Steel Prices Boost Q2 Profits at Steel Dynamics

Higher Steel Prices Boost Q2 Profits at Steel Dynamics

MPIer via AIST

7/20/2017 - Steel Dynamics Inc. saw its second-quarter profits rise 8.5% on higher average prices for its steel. 

For the quarter, the company posted net income of 63 cents per diluted share on sales of US$2.4 billion. In the same quarter last year, the company recorded net income of US$142 million, or 58 cents per diluted share, on sales of US$2 billion. 

During the quarter, average external sales prices rose nearly 22% to US$779 per ton. However, external mill shipments declined nearly 2% to 2.25 million tons during the same period. The company described its order entry as “hesitant.”  

"We believe the customer order hesitancy was related to anticipated scrap price changes rather than any underlying softness in demand Additionally, customer inventory levels continued to be positioned at historically low levels,” chief executive Mark Millett said in a statement. 

The company said its earnings were impacted by narrowing metal spreads and by downtime at its two flat-rolled mills. At its Butler, Ind., mill, a galvanizing line went down for three weeks to allow for upgrades that added 180,000 tons of capacity. 

At its Columbus, Miss., mill, production quality problems forced downtime on its new Galvalume and paint line. 

Looking ahead, the company said macroeconomic and market conditions would seem to support domestic steel consumption.  

"Although U.S. automotive production has peaked, we believe North American automotive steel consumption will be steady, and that there will be additional growth in the energy and construction sectors, especially for larger, public sector infrastructure projects,” Millett said. 

[ Close ]
Inter-mail copyright © 2012冶金工业规划研究院
Copyright © 2012-2015 China Metallurgical Industry Planning and Research Institute
地址:北京市东城区东四西大街46号
Address: 46# Dongsixi Dajie, Dongcheng District, Beijing, China
Postcode: 100711 Telephone: 86-10-65256519 Fax: 86-10-65256519