Market Segment
September 17, 2024
Written by Laura Miller
Nucor blamed lower steel prices for its expectations of weaker third-quarter results.
In guidance released Tuesday, Nucor said it anticipates reporting Q3 earnings between $0.87 and $0.97 per diluted share. That’s down notably from $2.68/diluted share in the previous quarter and from $4.57/diluted share in Q3’23.
Several steel trade organizations have called on President Trump to resist weakening Section 232 steel tariffs.
The US Commerce Department has raised the anti-dumping duties (AD) on imports of oil country tubular goods (OCTG) from South Korea.
ArcelorMittal told the government of Ukraine that it is unable to restart operations at its ArcelorMittal Kryvyi Rih steel plant in a “safe and sustainable manner” following Russian missile attacks.
After an annual administrative review, the Commerce Department increased the anti-dumping duties on large-diameter welded pipe from Turkey.
Global raw steel production slowed for the third month in a row in August, according to the latest figures from the World Steel Association (worldsteel).