MT

Nucor Corporation is expanding production capacity with major projects including a 3 million ton per annum sheet mill in West Virginia expected to complete in late 2026. The company projects Q3 2026 earnings of $5.55-$5.65 per share, driven by higher steel prices and volumes.

U.S. steel prices have surged above $1,300 per short ton recently, benefiting major producers. Peer steel companies Steel Dynamics, Cleveland-Cliffs, and ArcelorMittal are also reporting strong earnings guidance and improved market conditions.

ArcelorMittal has announced it cannot safely restart operations at its Kryvyi Rih facility in Ukraine after four missile strikes over five weeks killed five employees and injured 17 others. The company will record a non-cash impairment charge of approximately US$1 billion and is discussing the plant's future with the Ukrainian government while focusing on infrastructure preservation.

The South American steel wire rods market is projected to grow by over USD 1.69 billion during 2026-2031, driven by infrastructure investment, housing construction, agricultural mechanization, and industrial modernization. Brazil leads regional production and consumption, while mini-mill technology and scrap-based electric arc furnace production improve manufacturing economics. Key growth segments include alloy steel, energy applications, and galvanized wire rods, though challenges include economic uncertainty and limited advanced manufacturing capability.