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
Steel Summit: Schneider sees SDI ‘on the edge of a very good run’
Steel Dynamics Inc. (SDI) President and Chief Operating Officer, Barry Schneider, remains bullish about the Fort Wayne, Ind.-based steelmaker’s position in the current market.
Steel Summit: Burritt says USS and Nippon are fast-tracking modern steelmaking
U.S. Steel President and CEO David Burritt told audiences at SMU's Steel Summit 2025 that the iconic American steelmaker’s partnership with Nippon Steel is fast-tracking smarter steel production.
Nucor moves to stop HRC price slide with $10/ton hike
Nucor is attempting to halt the decline in hot-rolled coil prices with the announcement of a $10-per-short-ton increase in its weekly consumer spot price on Monday.
Explosion rocks ArcelorMittal’s DR plant in Mexico
ArcelorMittal reported a "strong" explosion at the direct reduction part of its massive Lazaro Cardenas mill in Mexico.
SDI to acquire remaining stake in New Process Steel
Steel Dynamics Inc. (SDI) announced that it has agreed to acquire the remaining 55% equity interest in New Process Steel.