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.