The company said in its first-quarter guidance that it expects to report adjusted earnings in the range of US$1.94 of US$1.98 per diluted share, excluding costs related to construction of its new flat-rolled mill in Texas. 

The company said the results are being driven by increasing flat-rolled metal spread expansion and underlying steel demand. 

“Domestic steel demand remains strong, with the automotive and construction sectors leading the momentum. Order entry continues to be robust as strong demand, coupled with continuing historically low flat-roll steel inventories underpin higher steel selling values. The company believes this momentum will continue, resulting in even stronger second quarter 2021 results,” it said. 

The company said it also is seeing strong demand in its steel fabrication segment. 

“First quarter 2021 steel fabrication shipments are likely to reach record levels, as order activity is extremely strong, and customers continue to be optimistic concerning non-residential construction projects. Steel joist and deck product pricing has strengthened significantly as a result of strong demand and higher steel costs,” it said.