4/23/2015 9:36:00 AM
NEWS BRIEFS
Nucor Fastener Segment Sales Decline
Nucor Corp. reported Cold Finished Steel sales, including results from Nucor Fastener, declined 6% to 130,000 tons in the opening quarter of 2015.
Nucor’s consolidated net sales decreased 14% to $4.4 billion in Q1. Average sales price per ton fell 5%. Total tons shipped to outside customers declined 9% to 5.6 million tons. Total first quarter steel mill shipments decreased 10% from the first quarter of 2014 and dropped 8% from the fourth quarter of 2014.
First quarter downstream steel products shipments to outside customers increased 1% over the first quarter of 2014 and decreased 4% from the fourth quarter of 2014.
The average scrap and scrap substitute cost per ton slipped 19% to $324.
“We expect to further benefit from the large decrease in scrap prices that occurred in February during the second quarter of 2015, as we finish consuming scrap and pig iron purchased before the February price correction,” the company stated.
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