SDI: More Opportunities for Consolidation in Next 12 to 18 Months

Steel Dynanics CEO Mark Millett and other officers of the steel mill provided their review of the company’s first quarter earnings as well as their insights into the various markets they serve as well as the challenges and opportunities they see in front of them. SMU found one comment interesting as Mr. Millett feels there will be opportunities within the steel industry within the next 12 to 18 months. For right now SDI is growing organically and not through acquisition.

During the first quarter 2014 Steel Dynamics (SDI) shipped 263,000 tons of hot rolled coil, Pickled & Oiled shipments totaled 87,000 tons, cold rolled coil shipments were 32,000 tons, hot rolled substrate galvanized 106,000 tons; cold rolled substrate galvanized 41,000 tons; painted products (most of which will be cold rolled substrate products – even if HDG or AZ) 101,000 tons and Galvalume coil shipments totaled 10,000 tons. For the quarter SDI shipped 642,000 tons of steel coils in various forms.