Steel Mills
April 21, 2016
Nucor Says World Ready to take Action on China Steel Overcapacity
Written by Sandy Williams
Nucor announced first quarter 2016 consolidated net earnings within its projected range. Net income was $70.8 million and consolidated net sales were $3.72 billion, a 7 percent increase from Q4. Average sales price per ton decreased 11 percent from Q4, total shipments to outside customers was 5,148,000 tons.
Nucor steel mills produced 5,390,000 tons of steel in first quarter. Steel mill shipments were up 27 percent from Q4 at 5,647,000 tons. Operating rates at Nucor steel mills during the quarter increased to 74 percent from 63 percent the prior quarter.
