Summer Steel Prices Dip, Q2 Earnings Impacted
Decline in Second-Quarter Earnings for Top U.S. Steelmakers Bracing for a drop in second-quarter earnings are top U.S. steelmakers. Lower profitability is expected by analysts for Nucor, Steel Dynamics, and U.S. Steel. The major decline in steel prices helps to explain this trend. A supply excess has driven the price fall. Demand has been lapped by domestic manufacture and imports. Distributors have been slow to buy additional supplies. They would rather keep inventory levels as-i
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