Steel Mills
October 20, 2015
SDI Says Scrap Prices at Bottom
Written by Sandy Williams
Steel Dynamics reported decreased third quarter profit as a result of high levels of low priced imports and elevated domestic inventory. SDI posted net sales of $2.0 billion for a net income of $61 million in Q3. The three percent drop in sales was due to lower pricing and reduced volume in the recycling and flat rolled segments.
Steel sales totaled $1.35 billion for the quarter on shipments of 2.25 million tons. Average sales price per ton was $665 and steel production utilization was 82 percent, down from 87 percent in Q2. Flat rolled shipments decreased four percent from Q2 to 1.54 million tons.
