Steel Dynamics Reports Strong Momentum in First Quarter

Steel Dynamics Inc. forecast higher first- and second-quarter results, fueled by strong shipments and record steel prices, according to guidance issued Wednesday.

SDI “First-quarter 2021 profitability from the company’s steel operations is expected to be significantly higher than sequential fourth-quarter results, driven by flat roll metal spread expansion, as strong demand continues to support flat roll steel prices,” the steelmaker said. “Average realized quarterly flat roll steel product pricing is expected to increase substantially during the quarter more than offsetting higher scrap costs.”