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Steel Dynamics announces Q4 2012 market outlook
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Thursday, 22 Nov 2012
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Mr Mark Millett CEO of SDI said that "Looking ahead, we have seen softening in agriculture, transportation and certain areas within energy, related to natural gas exploration; however, automotive and manufacturing appears strong and residential construction has shown incremental improvement, as housing starts and rents have improved in face of declining inventories."

He added that "We believe volumes could continue to be challenged in the fourth quarter, as fluctuations in immediate customer needs and hesitancy for customers to carry inventory persists. Ferrous scrap pricing fell further in October 2012, which could challenge our metals recycling operations, while benefiting our steel operations early in the fourth quarter. While US and world economies remain anemic, we remain uniquely equipped to capitalize on the opportunities ahead, supported by our superior low cost, highly variable cost structure, our diversified, value added product mix, our vertical integration and our exceptional team of employees."

Source - Steel Dynamics Inc

(www.steelguru.com)

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