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    Market Segment

    January 30, 2024

    Nucor sees federal programs adding to annual demand

    Written by Stephanie Ritenbaugh

    Nucor is optimistic about long-term activity from bridges and highways, semiconductor chip plants and renewable energy, but still sees some short-term challenges.

    The North Carolina-headquartered steelmaker expects the federal programs that support these megatrends “to add somewhere between 5 million to 8 million tons of incremental annual demand for steel over the next several years,” executives said Tuesday, Jan. 30 on the company’s Q4’23 earnings call.

    Stephanie Ritenbaugh

    Stephanie Ritenbaugh is a reporter for Steel Market Update. She is an experienced business journalist, holding a variety of positions for trade publications and newspapers, including covering shale development for Gas Business Briefing/Platts and for the Pittsburgh Post-Gazette. She can be reached at stephanie.ritenbaugh@crugroup.com or +1 724-759-7868

    Read more from Stephanie Ritenbaugh

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