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Nucor, Steel Dynamics Surge as Steelmaking Outlook Gets Rosier

Two of the largest American steelmakers struck a more optimistic tone about the market after reporting stronger-than-anticipated demand driven by non-residential construction markets.

Steel Dynamics Inc. said it expects strong demand and prices to remain supportive amid raw material inflation and supply disruptions related to Russia’s invasion of Ukraine. Nucor Corp., the largest U.S. producer, said it expects second-quarter earnings to rise due to more robust demand in nonresidential construction through the Spring building season.