On Thursday, Nucor reported significantly improved earnings in Q1 2011 compared to both the prior quarter the same quarter a year ago.
Nucor did say however that "We are keeping a watchful eye on imports as any measurable increase in import levels will be a threat to current market stability, particularly in the sheet markets." The company plans to keep an especially close watch on the sheet business in general, saying that there will be an effect on the automotive market due to a Japanese parts shortage.
In the sheet market, Nucor said that customers are keeping inventories very lean, and are buying just what they need, bringing it in just when they need it. Order books for sheet products are also six to eight weeks, and overall operating rates at Nucor steel mills were approximately 80 percent in Q1.
On the rebar side, during the question-and-answer portion of the conference all, Nucor explained that the company has been concerned about the heavy influx of imported material recently and that the rebar market is much more sensitive to imports. "Even one ton of rebar coming in is one ton too many" said Nucor CEO Dan DiMicco.