Steel Mills
Nucor Third Quarter Guidance Positive
Written by Sandy Williams
September 18, 2014
Nucor is expecting higher profitability for its sheet steel, structural, bar and plate operations for third quarter. In their quarterly guidance, Nucor noted that manufactured goods, including energy and automotive, are their strongest markets. The high level of imports continues to pressure prices downward.
Growth in the residential market has benefited the fabricated construction products business. Non residential is still at historical low levels but is showing some improvement.
Nucor’s DRI plant in St. James Parish is consistently achieving high quality and volumes but is anticipated to have an operating loss of $27 million for third quarter due to consumption of higher cost iron ore inventories and planned outages in June and July. Lower iron ore costs, process improvements and a steady run-rate are expected to lead to a fourth quarter profit.
Sandy Williams
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