Steel Mills
Nucor Guides to Improved Third Quarter
Written by Sandy Williams
September 17, 2013
In guidance remarks released Tuesday, Nucor Corp. said it expects the third quarter to outperform the second due to strong performance from its sheet and structural steel segment. Sheet steel improvements are attributed to competitor supply disruptions, customer inventory restocking and market demand improvement. The structural segment benefited from higher production following a planned maintenance outage at Yamato Steel in the second quarter and customer inventory restocking. The fabricated construction product segment is also expected to show improved results at the end of the third quarter.
The Direct Reduced Iron (DRI) plant in Louisiana is in the final stages of hot commissioning and scheduled to start production within the next few weeks. The raw materials segment is expected to report weaker results associated with start-up costs at the DRI facility.
Nucor noted the non-residential market has been slow to gain and sustain momentum. The company’s strongest end markets are energy and automotive.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Trump says US government to control 51% share in USS
President Trump says the US government will hold a 51% stake in U.S. Steel after the Nippon deal.
ArcelorMittal plans wire-drawing closure in Hamilton, shifts production to Montreal
ArcelorMittal’s (AM) Hamilton location to be shuttered, wire production shifting to Montreal.
USS, Nippon Steel quiet as litigation deadline approaches
There has been little word from U.S. Steel, Nippon Steel, or the White House since President Trump endorsed the companies’ “partnership” on social media and celebrated it at the May 30 rally outside Pittsburgh.
AISI: April mill shipments fall, sheet down YTD
US steel mills saw a decline in shipments from March to April.
Hybar rolls first rebar, ramping up Arkansas mill commissioning
The startup steelmaker produced its first rebar at its greenfield steel mill in Osceola, Ark., marking a key milestone by completing construction in 22 months.