Nucor Corp. has resumed operations at its direct-reduce iron (DRI) plant in Louisiana after an unplanned outage in early February.
The Charlotte, N.C.-based steelmaker said it made the necessary repairs resulting from an equipment failure, and took advantage of the downtime to perform maintenance work that had been scheduled for later this year.
Looking ahead, Nucor expects an upswing in first-quarter earnings according to guidance the company issued in mid-March. The predicted surge comes amid a strong showing from the companys steel mills, particularly its sheet and plate mills, which have benefited from improved demand and trade petitions.
We are encouraged by the renewed growth in demand we are seeing in both the nonresidential construction and energy markets, the company said. Looking upstream, Nucor said it expects improved profits at its raw materials segment in the first quarter despite the outage at the Louisiana DRI plant. The company cited a strong showing from its scrap processing and brokerage operations, as well as from its DRI plant in Trinidad and Tobago.