Steel Mills
April 23, 2019
SDI Finishes Challenging First Quarter with Optimism
Written by Sandy Williams
“A somewhat challenging flat-rolled price environment” is how Steel Dynamics CEO Mark Millett described the first quarter of 2019.
SDI posted net income of $204 million in the first quarter and sales of $2.8 billion. Lower steel prices impacted sales resulting in 3.0 percent decline sequentially. Operating income for the company’s steel operations fell 22 percent from the fourth quarter to $312 million resulting in metal spread compression. Average sales price for the quarter decreased $38 per ton to $901, while average scrap cost consumed decreased just $5 per ton.
