10/22/2009
NEWS BRIEFS
Nucor Fastener Results For Q3
Fastener worker at Nucor Fastener facility in St. Joe, IN (courtesy Nucor Fastener).
Nucor Corp. reported cold finished steel sales, including fasteners, dropped 24% to 87,000 tons during the third quarter of 2009.
Nine-month cold finished steel sales sunk 38% to 243,000 tons.
The financial report comes weeks after Nucor Fastener filed antidumping and countervailing petitions with the U.S. Commerce Department against standard fastener imports from China and Taiwan. The petitions allege average dumping margins of 145% for Chinese imports, and 74% for imports from Taiwan.
The U.S. International Trade Commission is scheduled to make its preliminary injury determination by November 9, 2009.
Overall Nucor sales increased 26% to $3.12 billion during Q3, compared with $2.48 billion in the second quarter of 2009. Sales decreased 58% compared with $7.45 billion in the third quarter of 2008. Average sales price per ton increased 1% from the second quarter of 2009 and decreased 45% from the third quarter of 2008. Total tons shipped to outside customers were 5,114,000 tons in the third quarter of 2009, an increase of 24% over the second quarter of 2009 and a decrease of 24% from the third quarter of 2008.
Nine-month Nucor sales decreased 58% to $8.25 billion. Average sales price per ton decreased 32% while total tons shipped to outside customers decreased 38% compared to the first nine months of 2008. ©2009 GlobalFastenerNews.com
Related Stories:
• ITC Antidumping Conference: Manufacturers & Importers Differ on Tariffs for Fastener Imports
• Final Scope of Antidumping Petition Filed By Nucor Fastener
• Commerce Dept. Seeks Feedback on Antidumping Scope
Related Links:
Share: