US steelmaker Steel Dynamics' (SDI) new mill in Texas continues to ramp up.
The company's 3mn short tons (st)/yr flat-rolled mill in Sinton, Texas, ran at a 65pc utilization rate so far in October and has been able to hit single-day utilization rates of 80pc.
The mill should be able to run at 80pc during 2023, according to chief executive Mark Millett.
The Sinton mill has been beset by delays during the Covid-19 pandemic, with labor, weather, and electricity problems among the issues slowing its startup.
Total company-wide steel shipments totaled a record 3.15mn st, driven by construction industry demand, according to Millett. Shipments were up by 13pc, or 350,000st, compared with the prior year, primarily driven by increased flat-rolled volumes.
External shipments increased by 14pc to 2.69mn st.
Steel mill production totaled 2.79mn st in the quarter, an increase of 10pc compared with the 2.53mn st produced in 2021.
In the third quarter, SDI's average external sales price was $1,381/st, down by 11pc compared with the $1,550/st in the same period of 2021.
SDI earned a profit of $914mn in the third quarter, down by 8pc compared with the same period of last year.
