Steel Mills

Nucor: Lower Earnings Expected in Q1
Written by Sandy Williams
March 15, 2019
Nucor anticipates earnings will decrease in the first quarter of 2019. In guidance remarks, the company cited lower average selling prices and margins in its sheet mill group for the decline.
Said Nucor, “We believe that sheet pricing reached the low point during the first quarter and are encouraged by the impact of recent price increases. Additionally, we are experiencing shipment delays to construction customers of our steel mills and steel products segments due to an unusually wet winter season.”
Nucor’s raw materials segment is also expected to report lower earnings compared to the fourth quarter due to margin compression in the DRI business from a decline in average selling prices.
The profitability of the steel products segment is expected to be relatively unchanged from the fourth quarter of 2018.
First-quarter earnings are expected to be in the range of $1.45 to $1.50 per diluted share, compared to $2.07 per share in Q4 2018 and $1.10 in Q1 2018.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills

CMC Q4 profits rise on improved market conditions
CMC reported higher net earnings in its fiscal fourth quarter on "better market conditions" across its segments.

AISI: Raw steel production drops to multi-month low
After being historically strong for more than four months, US raw steel production fell for a second week.

U.S. Steel sues Algoma over iron pellet shipments
U.S. Steel is suing Algoma over the Canadian flat-rolled producer's rejection of iron pellet shipments, arguing it has breached its contract.

August US mill shipments slip but still higher than last year
The American Iron and Steel Institute reported a decline in the monthly shipments of US mills from July to August.

TransPod, Algoma, Supreme Steel linkup anchors Canadian steel in high-speed transit build
The three Canadian companies have announced a strategic partnership to support the development of an ultra-high-speed transit line from Edmonton to Calgary.