SDI Anticipates Spurt in North American Steel Consumption

SEATTLE (Scrap Monster): Fort Wayne, Indiana-based Steel Dynamics, Inc. (SDI) announced steel market outlook for the current year.

The company believes that the market dynamics are in place for domestic steel consumption to record further growth in 2022, in comparison with the previous year. The North American steel consumption is likely to experience steady growth in 2022, based on domestic steel demand fundamentals and customer confidence. The growth in consumption will be mainly supported by key sectors including construction, automotive and industrial. The construction sector will be the primary driver, based on record steel fabrication order backlog and continued strength of order activity.

ALSO READ:

Steel Dynamics Delivered Tremendous Performance in 2021

Steel Dynamics Acclaimed as the 2021 Steel Producer of the Year

SDI has been ramping up operations at its new state-of-the art electric-arc-furnace flat roll steel mill located in Texas. The full operations are expected to commence before the end of February this year. As per current forecast, the company expects shipments to total around 2.0 million tons in 2022.

The company is currently investing around $500 million in building four additional value-added flat roll steel coating lines comprised of two paint lines and two galvanizing lines. All the four lines are expected to become operational in mid-2023.