Steel Mills

Nucor Expects Significantly Stronger Q4
Written by Sandy Williams
December 17, 2020
Nucor expects improved fourth-quarter earnings due to higher pricing of sheet and plate as well as strong results at its bar and structural mills. Profitability for the steel products segment is expected to decrease modestly, consistent with typical seasonality.
The raw materials segment will benefit from higher prices for raw materials and improved financial performance at Nucor DRI facilities, the company said.
Earnings are expected in the range of $1.15 to $1.20 per diluted share compared to $0.63 in the third quarter and $0.35 in the fourth quarter of 2019.
“The ongoing COVID-19 pandemic continues to cause uncertainty, making it difficult to forecast future market conditions and demand trends,” said Nucor. “However, the beneficial impact of recent price increases on our sheet mills’ performance, as well as the strength of our backlogs and overall lead times, indicates that the current quarter’s momentum will continue into the first quarter of 2021.”

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills

Algoma swings to loss on ‘market challenges’ and ‘tariff uncertainties’
Canada’s Algoma Steel swung to a loss in the first quarter amid "market challenges," and the company now expects first steel production from its first EAF in the second quarter.

Ternium raises budget for Mexico project
The steelmaker now expects the new steel slab mill in Pesquería will begin operations by Q4’26.

SSAB announces $74M expansion in Alabama
The project will expand heat treat capacity at its Axis, Alabama plant

ArcelorMittal’s EAF in Alabama expects first heat in Q2
The facility at AMNS Calvert will be the first EAF in North America capable of supplying exposed automotive grades with domestically melted and poured material.

Nucor’s Topalian lauds Trump’s trade policies, downplays impact
Nucor’s top exec Leon Topalian said the benefit of the current administration’s aggressive trade policies “trumps” any risk of potentially higher raw materials prices.