Mon. 17 Jun 2024, 7:48am ET
Benzinga
News, Guidance
Second quarter 2024 profitability from the company's steel operations are expected to be meaningfully lower than sequential first quarter results, based on lower realized pricing offsetting steady shipments. Underlying domestic steel demand remains intact although steel buying hesitancy has resulted from a weakening scrap price environment. The automotive, non-residential construction, energy, and industrial sectors continue to lead demand.