Fourth quarter 2024 profitability from the company’s steel operations is expected to be meaningfully lower than sequential third quarter results, based on lower average realized pricing, seasonally lower shipments, and an unplanned outage at the Company’s Butler Flat Roll Division further reducing volume by an estimated 50,000 tons. Flat rolled steel prices have stabilized, and underlying steel demand remains seasonally steady for the primary steel consuming sectors, as evidenced through solid customer order activity. Customers have been positive concerning the business outlook for 2025.
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