Steel Dynamics Guides to Lower Earnings in Q4

Steel Dynamics Inc. provided guidance on fourth-quarter earnings, predicting a lower sequential quarter. Planned outages at the company’s flat rolled divisions resulted in higher costs and lower value-added shipments, reducing pretax earnings by approximately $27 million.

Flat rolled steel pricing declined at a steeper rate than prices for scrap raw material. The long products division saw merchant steel volume under pressure from “excessive prefabricated steel imports and excess domestic production capability.”