According to the company’s quarterly earnings guidance, issued Wednesday, earnings are expected to fall between US$4.78 and $4.82 per diluted share. SDI reported earnings of 47 cents per diluted share in the same quarter last year. 

The company said its steel mills are continuing, particularly its flat-rolled units, to benefit from strong demand and metal spread expansion. 

“(The automotive, construction, and industrial sectors are) continuing to lead the momentum,” the company said. “Order entry continues to be robust as strong demand, coupled with continuing low flat-roll steel inventories, underpin elevated steel selling values. The company believes this momentum will continue, resulting in even stronger fourth-quarter results.”