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Released October 18, 2024 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Steel Dynamics Incorporated (NASDAQ:STLD) (Fort Wayne, Indiana) enjoyed steady demand for its products in third-quarter 2024, which partly offset the effects of slumping steel prices. The company is building out its low-carbon and material-recycling capacity as the steelmaking sector adopts more environmentally friendly tactics. Industrial Info is tracking more than $2.6 billion worth of active and proposed projects from Steel Dynamics, about $2.3 billion of which is attributed to projects under construction.
Click on the image at right for a graph detailing active and proposed projects from Steel Dynamics, by industry sector.
Aluminum Dynamics, a Steel Dynamics subsidiary, began construction early last year on one of the company's most ambitious projects: a $1.9 billion flat-rolled aluminum mill in Columbus, Mississippi, which is designed to produce 650,000 tons of finished products annually to serve beverage-packaging, automotive and common-alloy consumers. At full capacity, the rolling mill is expected to consume 900,000 metric tons of aluminum slab.
Earlier this year, Aluminum Dynamics executives told local media the project is moving smoothly, with 80% to 90% of the steel structure complete. It currently is expected to wrap up in the summer of 2025. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project and Plant databases can learn more from a detailed project report and plant profile.
"We are pleased to further diversify our end markets with plans to supply aluminum flat rolled products with high recycled content to the countercyclical sustainable beverage can and packaging industry, in addition to the automotive, industrial and construction sectors," said Mark Millett, the chief executive officer of Steel Dynamics, in an earnings-related press release.
At a separate location in Columbus, Steel Dynamics is putting the finishing touches on a $150 million biocarbon production facility, which the company expects to begin commissioning in the first quarter of 2025. The unit will supply the steel mill's electric arc furnace with 160,000 tons per year of biocarbon, a renewable alternative to fossil-fuel carbon. The company also is looking into a second phase that would expand capacity to 480,000 tons per year.
Millett said the two-phase project will reduce the company's Scope 1 emissions "by as much as 35%." Subscribers can learn more from a plant profile and detailed project reports on Phase I and Phase II.
Steel Dynamics also is pushing for more recycling of used materials through projects like its scrap-recycling plant in Dayton, Texas, which is set to begin construction next year. It is being preceded by $66.5 million of utility and roadwork, in part to provide access to a nearby highway and planned rail lines. The projects are managed by OmniSource LLC, a subsidiary. Subscribers can read a plant profile and detailed project reports on the recycling plant and supporting infrastructure.
Another major recycling effort is underway in Mexico, where Steel Dynamics began construction toward the end of 2023 on a $175 million aluminum-recycling plant in San Luis Potosi, which is expected to wrap up by the end of the year. The company also is weighing the potential for a proposed aluminum-recycling plant in Gila Bend, Arizona; both facilities would supply recycled aluminum slab to the aluminum-rolling mill in Mississippi. Subscribers can read detailed reports on the San Luis Potosi and Gila Bend projects.
Millett was upbeat about the company's near-term outlook: "Based on domestic steel demand fundamentals, we are constructive regarding the outlook for 2025 metal-market dynamics. We expect steel pricing to recover with an anticipated lower domestic interest rate environment, coupled with continuing onshoring of manufacturing businesses," with significant support from the 2022 Inflation Reduction Act and U.S. Department of Energy programs.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of detailed reports for active and proposed projects from Steel Dynamics.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing active and proposed projects from Steel Dynamics, by industry sector.Aluminum Dynamics, a Steel Dynamics subsidiary, began construction early last year on one of the company's most ambitious projects: a $1.9 billion flat-rolled aluminum mill in Columbus, Mississippi, which is designed to produce 650,000 tons of finished products annually to serve beverage-packaging, automotive and common-alloy consumers. At full capacity, the rolling mill is expected to consume 900,000 metric tons of aluminum slab.
Earlier this year, Aluminum Dynamics executives told local media the project is moving smoothly, with 80% to 90% of the steel structure complete. It currently is expected to wrap up in the summer of 2025. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project and Plant databases can learn more from a detailed project report and plant profile.
"We are pleased to further diversify our end markets with plans to supply aluminum flat rolled products with high recycled content to the countercyclical sustainable beverage can and packaging industry, in addition to the automotive, industrial and construction sectors," said Mark Millett, the chief executive officer of Steel Dynamics, in an earnings-related press release.
At a separate location in Columbus, Steel Dynamics is putting the finishing touches on a $150 million biocarbon production facility, which the company expects to begin commissioning in the first quarter of 2025. The unit will supply the steel mill's electric arc furnace with 160,000 tons per year of biocarbon, a renewable alternative to fossil-fuel carbon. The company also is looking into a second phase that would expand capacity to 480,000 tons per year.
Millett said the two-phase project will reduce the company's Scope 1 emissions "by as much as 35%." Subscribers can learn more from a plant profile and detailed project reports on Phase I and Phase II.
Steel Dynamics also is pushing for more recycling of used materials through projects like its scrap-recycling plant in Dayton, Texas, which is set to begin construction next year. It is being preceded by $66.5 million of utility and roadwork, in part to provide access to a nearby highway and planned rail lines. The projects are managed by OmniSource LLC, a subsidiary. Subscribers can read a plant profile and detailed project reports on the recycling plant and supporting infrastructure.
Another major recycling effort is underway in Mexico, where Steel Dynamics began construction toward the end of 2023 on a $175 million aluminum-recycling plant in San Luis Potosi, which is expected to wrap up by the end of the year. The company also is weighing the potential for a proposed aluminum-recycling plant in Gila Bend, Arizona; both facilities would supply recycled aluminum slab to the aluminum-rolling mill in Mississippi. Subscribers can read detailed reports on the San Luis Potosi and Gila Bend projects.
Millett was upbeat about the company's near-term outlook: "Based on domestic steel demand fundamentals, we are constructive regarding the outlook for 2025 metal-market dynamics. We expect steel pricing to recover with an anticipated lower domestic interest rate environment, coupled with continuing onshoring of manufacturing businesses," with significant support from the 2022 Inflation Reduction Act and U.S. Department of Energy programs.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of detailed reports for active and proposed projects from Steel Dynamics.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
