Steel Mills
July 19, 2016
Steel Dynamics Sees Stability in the Market
Written by Sandy Williams
Steel Dynamics announced second quarter 2016 net income of $142 million on net sales of $2.0 billion. In comparison, net sales in Q1 totaled $1.7 billion with net income of $63 million and year ago sales were $2.0 billion with adjusted net income of $53 million.
A decline in imports of flat rolled steel and stronger pricing in the steel operations drove improved results. Operating income attributable to SDI’s sheet product segment increased 159 percent from first quarter. Total operating income from the steel division was $277 million, up from $101 million a year ago. Average product selling price for the company’s steel operations increased $66 to $640 per ton. The average ferrous scrap cost per ton melted increased $43 to $227 per ton.
