Nucor 2016 net profit surge
- Issue Time
The fourth quarter of 2016 is the traditional off-season demand,the decline in U.S. steel market demand, the rate decreased from 74% to 76% inthe three quarter of the crude steel production capacity of Nucor, but stillhigher than 68% in the fourth quarter of 2015. The decline in demand andcapacity utilization decreased, the fourth quarter of Nucor steel productionchain was down 0.4% to 4 million 990 thousand tons, but still an increase of13.5%; steel shipments declined 1.2% to 5 million 150 thousand tons, but theyear-on-year growth of 15.5%.
The four quarter of 2016, the U.S. market steel prices reboundsigns, Nucor predict that this trend will continue into the first quarter of2017, the first quarter operating results will be a chain to improve, in 2017the annual profit will increase. The first quarter of 2017, Nucor steel sectorplate sheet and shipments growth, its earnings are expected to be unchanged;and the market inventory is low and the scrap steel prices will promote theprofitability of steelmaking raw materials department.