Steel Mills

Nucor Expects Best Q2 Since 2008
Written by Sandy Williams
June 14, 2017
Nucor Corp. expects second-quarter results to be somewhat weaker than the first quarter, but an improvement from second-quarter 2016. Results in the range of $1.00 to $1.05 per diluted share will be Nucor’s best second-quarter performance since 2008.
In guidance this week, Nucor noted a decrease in the performance of its sheet and bar mills compared to the first quarter due to aggressive competition. The company’s plate mills are showing improved profitability compared to the first quarter. Its downstream products segment will be stronger than the first quarter but weaker than second-quarter 2016.
Imports continue to negatively impact the U.S. steel industry, increasing 14 percent year-over-year in the first five months of 2017. The final determinations in the cut-to-length steel plate AD/CVD investigation is addressing the flood of imports in that market, said Nucor. The steelmaker also expects positive results in the ongoing cases on imports of rebar and steel wire rod.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills

BREAKING NEWS: Cliffs plans to idle three mills, cut 950 jobs on ‘insufficient demand and pricing’
Cleveland-Cliffs plans to indefinitely idle its steel mill in Riverdale, Ill., as well as mills in Conshohocken, Pa., and Steelton, Pa. The Cleveland-based steelmaker said all three facilities would be idled on or around June 30. Approximately 950 jobs will be impacted, the company said.

CRU: Usiminas may reduce capex unless government strengthens protection
“The lack of effective measures to create fair competition, amid a surge in subsidized imports, is the main threat to the sustainability of Brazil’s steel industry and its value chain,” CEO Marcelo Chara said.

USS swings to loss in first quarter on N. American flat-rolled segment woes
U.S. Steel CEO praised the company’s resilience, “despite the seasonally low results driven by annual mining logistics constraints in our North American Flat-Rolled segment and lagging spot prices.”

Nucor gives updates on new capacity coming online
Nucor said several of its capital projects will start operations within the next year and provided an update on them.

Algoma swings to loss on ‘market challenges’ and ‘tariff uncertainties’
Canada’s Algoma Steel swung to a loss in the first quarter amid "market challenges," and the company now expects first steel production from its first EAF in the second quarter.