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Worth notingAgendaNUEMon, Oct 26 Time to be announced1 min read
Nucor makes steel and downstream steel products, offering a view of both mills and businesses that turn steel into finished products. Steel Dynamics recently reported record shipments and higher steel prices, but higher material costs squeezed its fabrication business. Nucor can help establish whether that split between stronger steelmaking and pressured downstream profits extends to another major US producer.[1]
Separate shipments, selling prices per ton, input costs and downstream profit. Healthy volumes with prices rising enough to cover costs would support US steelmakers' earnings prospects; weaker volumes or input costs catching up with prices would challenge them. Higher steel prices are not good for every industrial stock, because processors and construction customers may pay more. Watch orders and customers' ability to pass on costs rather than equating revenue growth with better profit.[1]