Fort Wayne Indiana headquartered US’s leading steelmaker Steel Dynamics has reported that net income in 2022 was a record USD 3.9 billion with record net sales of USD 22.3 billion, as compared to net income of USD 3.2 billion with net sales of USD 18.4 billion in 2021. Record steel and steel fabrication shipments of 12.2 million tons and 856,000 tons, respectively Steel Dynamics Chairman, President, and Chief Executive Officer Mr Mark D Millett said “Domestic steel demand was solid throughout the year supported most significantly by the construction, automotive, industrial, and energy sectors. Customer steel inventories remained at below historical averages for most of the year, allowing for steady order patterns.” Mr Millett also said “We believe North American steel consumption will increase in 2023, and that demand for lower-carbon emission, US produced steel products coupled with lower imports will support steel pricing. We are ramping up operations at our new state-of-the-art electric arc furnace flat rolled steel mill located in Texas. The product quality is excellent, and grade development and dimensional tolerances have exceeded our expectations. Based on our current forecast, we expect Sinton’s annual utilization to be around 80 percent for 2023. Also, our four additional value-added flat rolled steel coating lines comprised of two paint lines and two galvanizing lines with Galvalume coating capability, are expected to begin operating in the second half of 2023. One set will be located onsite at Sinton, providing it with the same diversification and higher-margin product capabilities as our two existing flat rolled steel divisions. The other two lines will be placed at our Heartland Flat Roll Division to support growing coated flat rolled steel demand in the region and to further increase the diversification and cash generation capacity of our existing Midwest operations.” Steel Dynamics is one of the largest US steel producers and metals recyclers in the United States based on estimated annual steelmaking and metals recycling capability, with facilities located throughout the United States, and in Mexico. Steel Dynamics produces steel products, including hot roll, cold roll, and coated sheet steel, structural steel beams and shapes, rail, engineered special-bar-quality steel, cold finished steel, merchant-bar products, specialty steel sections and steel joists and deck. In addition, the company produces liquid pig iron and processes and sells ferrous and nonferrous scrap.
Fort Wayne Indiana headquartered US’s leading steelmaker Steel Dynamics has reported that net income in 2022 was a record USD 3.9 billion with record net sales of USD 22.3 billion, as compared to net income of USD 3.2 billion with net sales of USD 18.4 billion in 2021. Record steel and steel fabrication shipments of 12.2 million tons and 856,000 tons, respectively Steel Dynamics Chairman, President, and Chief Executive Officer Mr Mark D Millett said “Domestic steel demand was solid throughout the year supported most significantly by the construction, automotive, industrial, and energy sectors. Customer steel inventories remained at below historical averages for most of the year, allowing for steady order patterns.” Mr Millett also said “We believe North American steel consumption will increase in 2023, and that demand for lower-carbon emission, US produced steel products coupled with lower imports will support steel pricing. We are ramping up operations at our new state-of-the-art electric arc furnace flat rolled steel mill located in Texas. The product quality is excellent, and grade development and dimensional tolerances have exceeded our expectations. Based on our current forecast, we expect Sinton’s annual utilization to be around 80 percent for 2023. Also, our four additional value-added flat rolled steel coating lines comprised of two paint lines and two galvanizing lines with Galvalume coating capability, are expected to begin operating in the second half of 2023. One set will be located onsite at Sinton, providing it with the same diversification and higher-margin product capabilities as our two existing flat rolled steel divisions. The other two lines will be placed at our Heartland Flat Roll Division to support growing coated flat rolled steel demand in the region and to further increase the diversification and cash generation capacity of our existing Midwest operations.” Steel Dynamics is one of the largest US steel producers and metals recyclers in the United States based on estimated annual steelmaking and metals recycling capability, with facilities located throughout the United States, and in Mexico. Steel Dynamics produces steel products, including hot roll, cold roll, and coated sheet steel, structural steel beams and shapes, rail, engineered special-bar-quality steel, cold finished steel, merchant-bar products, specialty steel sections and steel joists and deck. In addition, the company produces liquid pig iron and processes and sells ferrous and nonferrous scrap.
