Steel Mills
April 23, 2015
Nucor Holding Back on Price Increase While Imports Glut Market
Written by Sandy Williams
Nucor Corp. announced net earnings of $67.8 million. Consolidated net sales decreased 14 percent year over year to $4.4 billion in the first quarter 2015. Earnings were down 12 percent compared to fourth quarter 2014. Total tons shipped to outside customers were 5.6 million tons, down 7 percent from Q4 and 9 percent from Q1 2014.
Profitability of the steel segment in first quarter 2015 was down 46 percent from fourth quarter. First quarter steel mill shipments were down 10 percent y/y to 4.9 million tons and 4 percent sequentially. Steel mill production was down 8 percent y/y to 4,758,000 tons. Average sales prices drop $70 per ton per plate, $67 per ton per beams and $49 per ton per sheet. Operating rates at the steel mills decreased to 65 percent in Q1.
