US steelmaker Nucor Corporation announced on June 15 that it expects to double its earnings in the second quarter of 2010, as compared to the first quarter of this year.
Nucor said that operating rates at its steel mills in the second quarter are similar to the first quarter, with some improvements at the beam mills and plate mills. The improved operating results are primarily due to increased margins.
Nucor stated that the most challenging markets for its products continue to be those associated with residential and non-residential construction, as expected, which continue to show little, if any, strength.