You are here: Home > Steel News > Latest Steel News > Nucor...

Nucor cautious on Q3 flats outlook

Friday, 22 July 2011 02:32:32 (GMT+3)   |  
       

During Thursday's quarterly results conference call, Charlotte, North Carolina-based Nucor executives indicated that the outlook for flat-rolled market will remain uncertain, and tempered by newly added sheet mill capacity.

Nucor's Chairman and CEO Dan DiMicco also noted that high levels of imported sheet steel have increased substantially--through May, hot rolled and cold rolled sheet import up 18 percent year-on-year, and the company "remains concerned about imports across all product lines," adding that the US government needs to enforce existing antidumping and countervailing duty orders.

During the question-and-answer portion of the conference call, DiMicco said that Nucor believes the flats market is at, or near, the bottom. But, in response to the domestic oversupply situation, Nucor will continue to be "extremely aggressive" to get as much business as possible.


Similar articles

US scrap prices seen sideways to $20/mt up for August as supply remains tight

25 Jul | Scrap & Raw Materials

Japan’s steel exports down 0.7 percent in January-April

31 May | Steel News

Japanese crude steel output down 7.6 percent in June from May

21 Jul | Steel News

Russia approves steel export taxes, market tries to evaluate immediate effects

28 Jun | Steel News

Japanese crude steel output up 11.3% in March from February

23 Apr | Steel News

How will the US steel industry fare under the Biden administration?

09 Nov | Steel News

Japanese crude steel output up 0.9 percent in Nov from Oct

20 Dec | Steel News

Turkish scrap maintains uptrend on Orbis Steel Index

22 Oct | Steel News

Turkish scrap up on Orbis Steel Index

15 Oct | Steel News

Turkish scrap rises on Orbis Steel Index

10 Oct | Steel News