Steel Dynamics CEO says domestic inventory levels moderated
Steel Dynamics CEO Mark D. Millett says: "We remain confident that current and anticipated macroeconomic and market conditions are in place to benefit domestic steel consumption in 2018... Domestic steel inventory levels have moderated. World steel demand and pricing have structurally improved and domestic steel demand remains healthy. We believe North American automotive steel consumption will be steady, and we continue to gain momentum in that sector. We also believe that there will be continued additional growth in the construction and energy sectors. We believe the recent tax reform will also provide a stimulus for additional domestic fixed asset investment and growth. In combination with our own SDI expansion initiatives, we believe there are firm drivers for growth in 2018."