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Nucor expects lower steel shipments in Q4

Electric arc furnace (EAF) steel producer Nucor expects lower steel shipments in the fourth quarter than in the previous quarter.

Nucor expects lower steel shipments in Q4
In a earnings guide published by the company, the company said it expects Nucor's flat rolled and long-finished steel shipments to decreased by the third quarter, which will lead to significantly lower earnings than the steel mill segment.
Rod rolling mill shipments will decrease as seasonal factors cause them to decrease their stocks as the end of the year approaches.
The performance of Nucor's raw materials segment is expected to have "significantly decreased" gains in the fourth quarter compared to the third quarter due to low profitability at direct decreased iron (DRI) mills in Louisiana and Trinidad and Tobago. 
According to Nucor's forecasts, fourth-quarter profit will be 45-47% lower than the previous year's period.

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