Steel Mills

Nucor Guides Lower for Third Quarter
Written by Sandy Williams
September 17, 2019
Nucor expects a weaker performance from its steel mills segment in the third quarter due to lower prices for sheet and plate steel.
“Although we still see stability in most of the end-use markets that we serve, there has been some softening in automotive, agricultural products and power transmission markets,” said the company in guidance remarks.
A strong nonresidential construction market and efficiency improvements in Nucor’s rebar fabrication and metal buildings segment is expected to result in higher profits for the steel products segment.
The DRI facility in Louisiana began a maintenance outage last week that will continue through mid-November. The outage and margin compression in the DRI business is projected to decrease the performance of the raw materials segment.
Earnings guidance is now in the range of $0.75 to $0.80 per diluted share, down from $1.26 per diluted share in the second quarter and $2.13 per share in Q3 2018.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills

AISI: Raw steel production ticks back down
US raw steel output declined last week after increasing the week prior, according to the latest data from the American Iron and Steel Institute (AISI). Output has see-sawed from week to week since mid-August. Still, it has remained historically strong over the past four months and has held near multi-year highs since June. Domestic mills […]

Gerdau reshapes North American footprint as tariffs squeeze long steel imports
Gerdau is repositioning its North American business to capitalize on a sharp shift in steel trade flows driven by elevated tariffs across the US, Canada, and Mexico.

CRU: Interest in AHMSA is growing
Representatives of at least six companies interested in acquiring AHMSA have reportedly begun to carry out physical inspections of the insolvent company’s assets.

USW urges Algoma to diversify product line as $500M lifeline meets wider Q3 losses
The United Steelworkers (USW) is pushing for transparency after Algoma Steel announced earlier this week that it has received CA$500 million in financing from the Canadian government.

Oregon Steel Mills lifts plate prices by $60/ton
Oregon Steel Mills has joined other producers in announcing a price increase of at least $60 per short ton on steel plate.