Steel Mills
July 18, 2019
Nucor Reports Weaker Shipments in Second Quarter
Written by Sandy Williams
Nucor reported a decline in earnings for the second quarter of 2019 due to lower shipments and pricing. A build-up of inventory before the Section 232 tariffs resulted in aggressive destocking at the end of 2018 and into 2019, which impacted order rates, along with an increase in domestic steel supply and a declining scrap environment.
Nucor’s $40 per ton price increase introduced three weeks ago held in its entirety, said Nucor’s CEO and President John Ferriola. He added that the second $40 per ton increase looks encouraging.
