b'US Plants the capability to produce latest-gener- ers across the U. S., including the Perm-ation high-strength steel products. Theian Basin, which includes oil fields in In the United States, Steel Dynamicsproject will include value-added finish- western TexasandsoutheasternNew reported record steel shipments of 10.6ing lines and a paint line. The plantsMexico. We are encouraged by an im-million tons and steel fabrication ship- productofferingwillincludeflat-rollprovement in market conditions and an ments of 642,000 tons. The companysteel products, Galvalume, and paintedincreased customer demand for tubular alsoreportedrecordsales,operatingsteel, to serve the energy, automotive,products, said Burritt.income, and net income. construction,andappliancesectors. With an estimated investment of overThe Lone Star No. 1 Mill has an an-In 2018, the domestic steel industry$1.7billion,thecompanyexpectstonual capacity of 400,000 tons. The re-benefited from a steady improvementlocate the facility in the Southwest. start process is underway and will be in underlying steel consumption, saidcompleted in the third quarter of 2019. SteelDynamicsCEOMarkMillett,UnitedStatesSteelCorporationre-basedonstrengthfromtheautomo- centlyannouncedtherestartofcon- Meanwhile, U.S. Steel said in a recent tive, construction, and energy sectors.structiononanelectricarcfurnaceconference for analysts and journaliststhat its European business is under a lot of pressure, and thats a big change We believe the market dynamics are in place for domesticfor us. The company is forecasting a drop of 3.2 percent in steel shipments steel consumption to continue to increase this year, foritsEuropeanoperationsthisyear. The 2019 outlook showed fewer ship- ments and higher capital expenditures than earlier forecasts.Increased steel consumption, coupled(EAF)facilityinFairfield,Alabama.The automotive markets are likely to with generally lower finished steel im- The company initiated construction ofbe an area of concern for the steel indus-ports, created a strong market environ- the EAF in March 2015 and suspend- try in the longer term. Worldsteel fore-ment. ed construction in December 2015 duecasts that demand for automobiles will to unfavorable market conditions. Thecontinue to grow at a healthy pace in We believe the market dynamics areEAF will have an annual capacity of 1.6 in place for domestic steel consump- million tons. The furnace is expected toemerging markets while growth in de-tion to continue to increase this year,begin production in the second half ofveloped economies is softening due he added.2020. to slowing demand growth, rising fuel prices, and interest rates.The companys planned flat roll steelU.S. Steel also announced it will re-mill that was announced late last year,start the No. 1 Electric-Weld Pipe MillArecentreportinBusinessInsid-with capabilities beyond existing elec- in Lone Star, Texas. The mill was idleder indicated that demand for personal tric arc furnace flat roll steel produc- in 2016 due to challenging market con- vehiclesisslowinginmanyareasof ers, said Millett. We have targeted re- ditionsfortubularproductscreatedthe world. According to the report, car gional markets that currently representbyfluctuatingoilprices,reducedrigsales have fallen all over the Eurozone over 27 million tons of relevant flat rollcounts, and what company CEO Davidsince mid-2018. In the U.S., car sales steel consumption, which includes theBurrittcalledhighlevelsofunfairlyare down in 2019 from last years peak, growing16milliontonMexicanflattraded imports. while in Turkey car sales have plum-roll market. meted a whopping 60% since January The mill will provide electric-welded2018. Now thats a trend that the global Steel Dynamics new steel mill willpipe in various size ranges for custom- steel industry had better follow.boast a capacity of 3.0 million tons and 2019 Collection Breakbulk Shipping 11'