UPDATE 1-Steel Dynamics denies breaching contract with GM

Newswire

(Adds details) DETROIT, March 25 (Reuters) - Steel Dynamics Inc. on Thursday denied that it has breached a contract to deliver steel to General Motors Corp. Steel Dynamics said that the amount under dispute with GM, which has filed a lawsuit against the steel company, is "not material" and amounts to less than $4 million before taxes. "There is simply no binding contractual obligation on SDI's part to supply GM with the steel it wants at the price it wants to pay," Steel Dynamics ...

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