Nucor raw materials segment swings to profitability

Nucor’s raw material segment generated an annual profit of $57 million in 2024. This marked a swing to profit over 2023 when Nucor reported a $14-million loss for the segment.

The Charlotte, N.C.-based company did not say in their earnings call on Tuesday what caused this increase besides a 20% increase in the production and usage of direct-reduced-iron (DRI) from their Trinidad and Convent, La., modules.

Stephen Miller

Stephen Miller started his career in the scrap metal industry in 1978 at Luria Brothers in Cleveland. Over the last 40-plus years, he has worked in all capacities in the trading business. He has had positions in both domestic and international scrap trading. In addition to scrap, Miller was at the forefront of the pig iron trade and established a pig iron distribution company under the name of Ferrosource, Inc. Most recently, Miller has concentrated on the scrap export market and regularly does consulting for several companies in the industry.

Stephen Miller

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