10/22/2015 4:38:00 PM
NEWS BRIEFS
Nucor Corp. reported Cold Finished steel sales, including results from Nucor Fastener, dropped 17% to 107,000 tons in the third quarter of 2015.
Nucor said the operating performance of the downstream products segment improved in Q3 as compared to the second quarter of 2015 due to increased volumes and lower steel costs.
“We are encouraged by the ongoing strength in the automotive market and the continued gradual improvement in the nonresidential construction market, the largest end market for Nucor products,” the company stated.
Consolidated Nucor sales decreased 3% to $4.23 billion in Q3. Average sales price per ton remained consistent with the second quarter of 2015 and decreased 15% from the third quarter of 2014. Total tons shipped to outside customers fell 13%. Total Q3 steel mill shipments decreased 3% from the second quarter of 2015 and decreased 10% from the third quarter of 2014.
Third quarter downstream steel products shipments to outside customers increased 9% over the second quarter of 2015 and decreased 3% from the third quarter of 2014.
In the first nine months of 2015, Nucor Cold Finished steel sales dropped 12% to 354,000 tons.
Nucor said the downstream products segment’s profitability in the first nine months of 2015 “significantly improved” compared to the first nine months of 2014 primarily due to lower steel costs.
Consolidated nine-month sales decreased 19% to $12.98 billion. Total tons shipped to outside customers were down 9% from the first nine months of 2014, while average sales price per ton slipped 11%.
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