Steel Products
Nucor's Topalian to Speak During Virtual Steel Summit
Written by Sandy Williams
July 29, 2020
Nucor President and CEO Leon Topalian has had quite the year, taking the reins of Nucor in January and then steering the company through the COVID-19 pandemic. Unlike Nucor’s blast furnace competitors, the EAF-based steelmaker was able to continue operations relatively unabated during the past two quarters.
“Our ability to continue operating, along with proactive engagement with our customers, has enabled us to grow our businesses with existing customers, as well as develop new customer relationships,” said Topalian during second-quarter earnings comments. “I don’t want to return to pre-COVID operating or performance levels. I want us to continue to focus on the things that we’ve been able to do over the last five months that will be a part of our business as we move forward.”
Among that focus is a number of ongoing projects including the Brandenburg plate mill, expansion and modernization of the Gallatin mill and gaining automotive market share.
“With regard to automotive, while we’re not GM’s, or Ford’s, or BMW’s, or Mercedes’ Tier 1 biggest supplier, we are working every day to be their best supplier…. So, even though autos will be down this year and probably for the next year in terms of pre-COVID levels, our share of that opportunity is going to grow.”
Topalian is among the CEOs slated to speak at the SMU Steel Summit 2020. Register here to join your peers for the Aug. 24-26 virtual conference.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products
Domestic CRC prices edge up, import tags mixed
The price spread between US-produced cold-rolled (CR) coil and offshore products on a landed basis widened slightly in the week ended Nov. 22.
Active rig counts stable this week
US rig activity has remained in multi-year low territory since June. Drilling in Canada has edged lower across the last few weeks but remains historically strong.
Domestic HR, offshore prices decline
US hot-rolled (HR) coil prices slipped this week, while tags in offshore markets were also largely down. Thus, the price premium between stateside hot band and imports on a landed basis was relatively unchanged.
Kloeckner, SDI collaborate on aluminum plant in Mississippi
The investment is aimed at growing Kloeckner’s automotive and industrial segment in the US and Mexico.
HVAC shipments slip in September but are still trending higher
Following a strong August, total heating and cooling equipment shipments eased in September to a five-month low, according to the latest data from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).