Speaking during a conference call Tuesday to discuss first-quarter results, chief executive Mark Millett said SDI remains committed to the project and continues to be excited about its prospects. The company is continuing to plan for a 2021 start-up, he said, but business conditions could change that.    

“We will be reassessing our timeline throughout the second quarter as we gain more visibility on the impacts of COVID-19.” 
At present, Millett said crashing oil prices and the halt to auto production have hurt flat-rolled demand. But he said steel’s biggest market, construction, remains steady.  

“While some projects have been disrupted or postponed, at this time the [construction] sector still remains intact. Our steel order activity from construction customers, as well as our strong steel fabrication order backlog, supports this sentiment,” he said.    

However, he cautioned that construction activity typically lags downturns by four to six months, so the full effects are uncertain. Still, he said he believes overall steel demand will eventually rebound.  

“When states begin to ‘re-open’ across our nation, we believe steel demand will likely respond quickly based on current customer buying patterns and already low steel inventories throughout the supply chain.”