The Epic American Credit and Bond Bubble Laboratory Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Archie Meeties who wrote (10431)	3/19/2004 11:16:28 AM
From: russwinter	Read Replies (6) of 110194

So much for the idea that steel prices can't be passed on to finished good producers: Reuters UPDATE - Nucor raises profit forecast, shares surge Friday March 19, 10:08 am ET NEW YORK, March 19 (Reuters) - Nucor Corp. (NYSE:NUE - News), the largest U.S. steel producer, on Friday almost doubled its quarterly earnings forecast due to the higher prices and strong demand that have sparked an industry-wide recovery, sending its shares up 7 percent. The company also said lower pre-operating and start-up costs have helped its performance. Charlotte, North Carolina-based Nucor said it expects to earn between 80 cents and $1 per share in the first quarter, compared with an earlier forecast of 40 cents to 60 cents. Steel prices in some grades have surged more than 30 percent this year, driven in part by voracious Chinese demand for the metal. Nucor is one of the largest U.S. steel "minimills," which make steel by melting down scrap metal. Nucor and other minimills have imposed surcharges on their customers to offset increasing costs of scrap metal. Nucor said the surcharge has been effective in countering those higher costs.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next