Steel Mills
December 17, 2016
Steel Dynamics Profits to Decline in Q4
Written by Sandy Williams
Steel Dynamics is expecting fourth quarter profitability to decline from third due to lower shipments and metal spread compression. Shipments were down in both the flat and long products categories. In addition, lower steel pricing more than offset savings realized from lower ferrous scrap costs.
Impairment charges for the quarter are still being assessed related to the company’s 82 percent-owned and idled Mining Resources joint venture and were not factored into the fourth quarter guidance.
