Steelmaker Nucor Sees Strong Market Growth Ahead

SUGAR LAND--May 17, 2021--Researched by Industrial Info Resources (Sugar Land, Texas)--U.S. steelmakers in general reported high earnings in the first quarter of this year, driven by high demand and low inventories. Nucor Corporation (NYSE:NUE) (Charlotte, North Carolina) reported first-quarter net earnings of $942.4 million, the most profitable quarter in the company's history, compared with $20.3 million in the first quarter of 2020. In a press release, Chief Executive Officer Leon Topalian said, "We expect earnings for the second quarter of 2021 to exceed our first-quarter results, setting a new record for quarterly earnings." In addition, if President Joe Biden's $2.25 trillion bill to strengthen U.S. infrastructure makes it through Congress, the good times could keep coming for steel manufacturers.