Banner
News

Nucor provides earnings guidance, discusses trade case decisions

December 14, 2017 - Nucor Corp. expects fourth-quarter results to be in the range of 50 to 55 cents per diluted share, down from third-quarter earnings of 79 cents a share.

The Charlotte, North Carolina-based steelmaker says imports continue to negatively impact the U.S. steel industry, as they rose more than 19 percent through October, compared with the same 10 months of 2016.

Alongside other domestic steel producers, Nucor continues to pursue trade cases to combat unfairly traded imports. Recently, the Commerce Department made a preliminary determination that corrosion-resistant and cold-rolled steel from Vietnam that originated in China evaded U.S. antidumping and anti-subsidy orders. As a petitioner in the case, Nucor believes the preliminary determination is an important step in fighting efforts to circumvent trade duties. A final determination is expected to be announced in the first quarter of 2018.

Recently announced price increases and the downward trend in imports late in the year from the mid-year peak are factors building positive momentum for 2018 business conditions, the company states.

“The automotive market remains healthy and continues to be a bright spot for Nucor as we grow our penetration of new automotive platforms. Nonresidential construction markets remain stable at a level significantly below peak 2007 levels. Energy markets continue their recovery from the depressed levels experienced in late 2014 and 2015. Heavy equipment and agriculture also continue to show signs of improvement. In general, we are optimistic on expected overall industrial production in 2018,” according to Nucor.

LATEST ISSUE 
MM Cover0917 digital

vert-current-linewhiteJanuary 2018

LIQUID COMMERCE

Renewing and rebuilding harbors and marine structures smooths pathways for internal shipping, international trade.

> READ THIS
MONTH'S ISSUE

MM digitaal archive banner 330

Instagram - @ModernMetalsMag

Modern Metals on Twitter

Banner

TrendPublishing 6 16 mm

Instagram Icon Large twitter facebook linkedin rss

MM Cover0917 preview FFJ Cover0917 preview mm 0917 brandingcovers2 3 2 Consumables 0917


BPA_WW_MASTER.jpg