Nucor Corp. announced that strong pricing across all product lines accompanied by increased demand and decreased pre-operating and start-up costs have increased the earnings expectations for its first quarter.
"The raw material surcharge mechanism has been effective in keeping pace with the continued increase in scrap prices," said Dan DiMicco, Nucor's vice chairman, president and CEO.
"Increased pricing and the strengthening of global and domestic demand for steel have contributed to a better than expected first quarter. In addition, we are very pleased with the significant turnaround achieved at our two newest steel mills - the sheet mill in Decatur, Alabama and the plate mill in Hertford County, North Carolina."
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