Steel Mills

Nucor Expects Higher Earnings for Q3
Written by Sandy Williams
September 14, 2018
Nucor is expecting earnings to improve from second to third quarter at its sheet and plate mills, despite weather-related outages at some locations. Lower sequential earnings are forecast at its steel products segment.
Decreased performance at Nucor’s scrap brokerage and processing operations and at the Louisiana DRI facility will result in lower earnings for the raw materials segment. Nucor’s Louisiana DRI facility experienced outages for much of the third quarter.
“We continue to believe there is sustainable strength in steel end-use markets,” said Nucor in its guidance press release.
Earnings are expected to be in the range of $2.35 to $2.40 per diluted share, compared to consolidated net earnings of $2.13 per diluted share in the second quarter and $0.79 per diluted share in Q3 2017.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills

ArcelorMittal Mexico to import from sister mills as it works to resume DRI production
ArcelorMittal has partially restarted operations at its direct reduction plant in Lazaro Cardenas, Michoacan. An explosion on Aug. 18 rocked the massive steelworks on Mexico’s Pacific coast, impacting production of direct-reduced iron (DRI).

Fall maintenance outages are coming in hot
Labor Day has passed, the sun is starting to set a little earlier each day, and cooler weather has begun to find its way down to many of us across North America. And you know what that means for the steel industry… Fall maintenance outages!

AISI: Domestic steel production ticks up
US raw steel production ticked up in the week ending on Sept. 6 after a decrease the week before, according to the most recent data from the American Iron and Steel Institute (AISI).

Domestic mill shipments slip in July: AISI
US steel shipments decreased month over month in July, but were up from last year, according to the latest figures from the American Iron and Steel Institute (AISI).

Nippon and USS drop litigation vs. USW and Cliffs
Another chapter of the Great U.S. Steel Buyout of the 2020s melodrama has closed, with all involved parties terminating the litigation disputes between them.