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Nucor Corp., Charlotte, reported net earnings of $386.5 million in the second quarter, a decline of 43.4 percent from the same quarter last year, and down 23 percent compared with the first quarter. First-half net earnings of $888.3 million were 14.6 percent below 2018.
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Nucor will add vacuum degassing to its engineered bar capabilities at its mill in Darlington, S.C. The addition will allow the company to produce engineered bar products meeting the most stringent quality-specifications. It is expected to begin operations in late 2020.
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Chief Digital Officer R. Joseph Stratman will retire from Nucor Corp. on June 8. He has worked for the Charlotte, N.C.-based minimill company for 29 years.
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Solid end-use demand helps producers and distributors of structural tubing products navigate tricky market dynamics.
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Nucor Corp., Charlotte, N.C., has acquired Century Tube LLC, Madison, Ind. Century Tube is a supplier of carbon steel tubing for automotive and other mechanical and structural applications.
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Nucor Corp. will build a new plate mill in Brandenburg, Ky., located along the Ohio River southwest of Louisville. Charlotte, N.C.-based Nucor will invest approximately $1.35 billion to build the mill, which is expected to be operational by 2022.
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Steel Market Update research shows service centers carry some influence when it comes to the direction of steel prices.
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Tariff talk dominated the steel market in 2018. How will trade policy and other issues affect the market for the steel supply chain over the next 12 months?
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While the market should remain strong for galvanized steel, 2019 is not likely to be as profitable for producers.
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The market for special bar quality metal rebounded last year after underperforming the previous two years. Strong end markets and favorable market conditions carried those gains into 2018, and producers and distributors of SBQ products don’t see the bar lowering anytime soon.
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Nucor Corp., Charlotte, N.C., will build a new plate mill in the Midwest. The company’s board of directors approved an investment of $1.35 billion to construct the 1.2-million ton mill. The mill is expected to be operational by 2022.
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Despite some recent softening, the domestic hot-rolled steel market has been quite robust this year. From the steelmakers’ perspective, it could be the best year in the past decade.
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Each year, Jacobson & Associates surveys more than 2,000 major steel customers in the United States and Canada, including service centers and end users, to measure their satisfaction with their mill suppliers.
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Nucor Corp., Charlotte, N.C., has acquired Corporacion POK, S.A. de C.V., a Guadalajara, Mexico-based precision casting company. POK produces complex castings and precision machined products used by the oil and gas, mining and sugar processing industries.
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ANDRITZ will build a hot-dip galvanized line for Nucor Steel’s facility in Hickman, Ark. The new line will have an annual capacity of 455,000 tons and is designed to produce high-strength steel grades, primarily for the automotive industry. Start-up is scheduled for the first half of 2021.
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Third-quarter financials are in, and Nucor’s strong performance has the company on pace for a record-setting year.
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Life is good for the steel industry. The economy is thriving, end markets are growing and business is booming. Despite these positive indicators, steel insiders can’t help but feel a certain amount of uncertainty about the future.
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Nucor Corp., will expand its production facility at its Nucor Steel Gallatin plant in Ghent, Ky. The $650 million investment will increase capacity from 1.6 million tons to approximately 3 million tons annually.
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