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Steel Dynamics outlines positive outlook on strong steel consumption in US

Steel News - Published on Tue, 23 Apr 2019

Image Source: Fox Business
Mr Mark D Millett, President and Chief Executive Officer, said "We believe the market dynamics are in place for domestic steel consumption to continue to increase this year. Based on domestic steel demand fundamentals and continued customer optimism, we believe North American steel consumption will experience steady growth. In combination with our existing and newly announced expansion initiatives, we believe there are firm drivers for our continued growth. We are excited about our planned flat roll steel mill, and the anticipated long-term value creation it will bring through geographic and value-added product diversification. We plan for the new steel mill to have product capabilities beyond existing EAF flat roll steel producers today, competing even more effectively with the integrated steel model and foreign competition. We have targeted regional markets that represent over 27 million tons of relevant flat roll steel consumption, which includes the growing Mexican flat roll market. This facility should have a meaningful competitive advantage in those regions.”

Mr Millett concluded "We continue to strengthen our financial position through strong cash flow generation and the execution of our long-term strategy. We are well-positioned for growth and remain focused on delivering long-term shareholder value through organic and transactional growth opportunities.”

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Posted By : Sanju Moirangthem on Tue, 23 Apr 2019
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