The production ramp-up at Steel Dynamics Inc's (SDI) planned $1.9 billion Sinton, Texas, flat-rolled mill has been pushed back due to heavy flooding in the state.
SDI detailed the delay in its second-quarter earnings statement.
"Due to the excessive heavy rains in Texas, actual steel production will be delayed and is now planned to start mid-fourth quarter 2021," says CEO Mark Millett.
Sinton's shipments are expected to be around 100,000 short tons in 2021, rising to 2.2-2.4m st in 2022. When it's fully up-and-running - with its companion four $450-500m galvanizing lines-the plant will contribute $475-525m to the company's annual earnings before interest, taxes, depreciation, and amortization.
One flat-rolled buyer points to the delay as a possible trigger for another run in hot-rolled pricing. Momentum appears to have paused around the $1,800/st point, but many buy-side sources believe mills will shoot for a list price of $2,000/st by year-end.
Millett ended his statement on capital investments by touching on sustainability, though he did not directly link the catastrophic Texas flooding with the company's environmental goals.
"We recently announced greenhouse gas reduction and renewable energy goals, including a goal for our steel mills to be carbon neutral by 2050,"he says, echoing commitments made by other North American steelmakers and global governments. "We are starting from a position of strength yet plan to do more."
Short comments: Recently, China's Zhejiang province also ushered in a strong typhoon, resulting in many places of waterlogging, even debris flow, in the humid environment, we will do more protection of galvanized products, will continue to improve the quality of galvanized, to ensure the practicality of products.
The Crucial Role of Oil Drum Caps in Preventing Leaks and SpillsJanuary 18, 2024If you work in an industry that deals with storage and transportation of liquids, particularly oil, you are likely well aware of the importance of preventing leaks and spills. One simple yet often ove...view
First Quarter Performance Review Of PetroChinaJuly 1, 2022Intensify exploration and development and strive to increase efficiency and output.The company made great efforts to stabilize oil and increase gas, and produced 373 million barrels of oil and gas equ...view
Indonesia Proposes To Impose Anti-dumping Duty On Chinese Alloy Hot Rolled CoilJuly 1, 2022Indonesia's Anti-Dumping Committee(KADI) has proposed that final anti-dumping duties of 7.2%-50.2% be levied on alloy-added hot rolled coil originating from China. This recommendation will now be ...viewWhat Are the Requirements for Exporting Steel Drums Containing Dangerous Goods in Proper Packaging?October 25, 2023Dangerous goods steel drum basic conditions:There should be a certain adaptability between the inner and outer packaging, and the lining should not rub against and damage the steel drum during transpo...viewSteel Market ForecastJuly 1, 2022Supply side: According to MySteel research, the production of large varieties of steel on Friday was 10.5735 million tons, an increase of 60,000 tons from the previous week.Demand: Apparent consumptio...view
Standard For Use Of Steel Barrel Closures: Myers Container CompanyJuly 1, 20221. Closed system componentsIn order to ensure compliance with the UN requirements for the transportation of dangerous goods, the filler must inspect and re-tighten all applicable caps as needed before...view
EN
ko 
fr 
de 
es 
it 
ru 
pt 
ar 
vi 
th 
