Steel Dynamics [$STLD] Reports Record First Quarter 2021 Results – #stocks chatter


Steel Dynamics [$STLD] Reports Record First Quarter 2021 Results

We've seen a rise in various steel and iron ore prices only precedented in recent history by that which was seen in 2007-2010 ([]( At that time, Steel and Iron Ore companies recorded record profits, and many traded to their all-time-highs. With that, I've been monitoring the performance of the metals leaders in the U.S. and around the world - it seems that these companies are again directly benefiting from the favorable conditions in the commodity markets.


>We remain confident that market conditions are in place to benefit the domestic steel industry in 2021 and beyond," said Millett. "While global economies are still recovering from the shock of COVID-19, we are seeing strong steel demand coupled with extremely low customer steel inventory throughout the supply chain. The automotive sector has experienced the strongest recovery, despite the electronic chip shortage, and the construction, equipment and transportation sectors are also strong. Our order entry continues to be robust across our businesses, and when coupled with historically low inventories, supports continued strong steel selling values. We believe this momentum will continue throughout the year and that our second quarter 2021 earnings will be even higher than our record first quarter 2021 results. We also believe U.S. trade policies and existing steel trade cases will continue to moderate steel imports. Based on strong domestic steel fundamentals and customer optimism, we continue to be confident regarding North American steel market dynamics. This positive environment coupled with our strategic growth initiatives provide firm drivers for our further growth in the coming years.

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