Nucor Expects Weak Q4

Nucor is expecting weaker financial results in fourth quarter. Operating performance in the steel mill segment was down from third quarter, especially at sheet and bar mills, as lower selling prices outpaced the decline in raw materials pricing.

“This performance is due to continued deterioration in global steel markets amplified by global excess capacity and historically high import levels,” wrote Nucor in its Q4 guidance. “Although the trade remedy process has not moved as quickly as we would like, we believe that preliminary antidumping and countervailing duties and affirmative critical circumstances findings in the steel sheet cases should have a positive impact on domestic sheet mills in the first half of 2016.”