Steel Dynamics Reports Fully Booked Flat Rolled Mills w/ Strong Quarters to Come

First, Steel Dynamics Industries (SDI) reported an increase in steel shipments (+17%) and that they were continuing to grow, “…across all divisions but most significant in flat rolled.” They went on to report customer inventory levels are now “better aligned with actual demand, which is supporting increased domestic steel production and now also flat rolled price increases as we head into the second quarter, especially for value-added products.”

SDI CEO Mark Millett (who also happens to be one of our Steel Summit speakers) told the analysts, “The steel platform performed well in the first quarter. 2016 has certainly provided a changing landscape to the domestic flat roll market. Several positive macro shifts have resulted in significantly improved flat roll product pricing going into the second quarter. Flat roll steel import levels have declined, and global steel pricing has appreciated.