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BRIEF-Nucor says estimates capital spending of about $550 million for 2017
April 20, 2017 / 7:11 PM / 8 months ago

BRIEF-Nucor says estimates capital spending of about $550 million for 2017

April 20 (Reuters) - Nucor Corp:

* “For 2017, we estimate capital spending of approximately $550 million and depreciation and amortization of about $730 million” - Conf call

* While recent trade case decisions have begun to reduce flood of dump, subsidized products from foreign producers, imports continue to negatively impact U.S. steel industry overall -Conf call

* “Certain countries continue to brazenly break and circumvent our nation’s trade laws” - Conf call

* “Earnings in the second quarter 2017 are expected to increase compared to the first quarter” - Conf call

* “Our fabricated construction products order books indicate that the nonresidential construction markets have regained momentum in 2017”- Conf call

* We welcome an investigation into impact of imported steel upon our national security, particularly given that many of these steels are imported illegally, violating our trade laws - Conf call

* “The amount of steel consumed per rig has doubled since about 2013” - Conf call

* Rig counts are up, just about double. Steel consumed per rig, up, just about double. That bodes well for steel consumption in energy market - Conf call Further company coverage:

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