Steel Mills
Nucor Exceeds Expectations in Q2
Written by Sandy Williams
June 18, 2020
Nucor is guiding to better-than-expected second-quarter earnings in the range of $0.10 to $0.15 per diluted share. First-quarter earnings were $0.07 per diluted share and included asset losses related to the mill’s equity method investment in Italy.
Nucor’s downstream steel products segment remained strong during the quarter due to resilient demand in nonresidential construction.
COVID-19 shutdowns, particularly in automotive, and a weak oil and gas market negatively impacted Nucor’s sheet and plate mill results. The automotive industry has returned to production following an extended shutdown and is ready to replenish inventory sold during the pandemic outage. Steel sales to the sector are expected to improve as auto production levels return to pre-pandemic levels.
Nucor’s raw material segment was challenged by decreased pricing for raw materials and an outage at the DRI Trinidad facility due to stay-at-home orders.
“We believe Nucor is well positioned to navigate any future challenges that arise from these current situations given our advantaged cost position, flexible production capability and financial strength,” said the company.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
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.
North Star results improve despite buyer caution as tariffs drive prices higher
North Star BlueScope said it is optimistic that US tariffs will bolster selling prices and tighten the spread the Australia-based steel maker suffered in 2025.