Commodities
Nucor Shares Drop Most in Six Months on Steel-Demand Warning
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Shares of Nucor Corp., the largest US steelmaker, dropped by the most in six months after the producer warned that demand for the alloy will remain soft headed into 2025, indicating a rebound may be further off than anticipated.
The Charlotte-based company said it expects fourth-quarter earnings to decrease from the third quarter, with the main driver being lower average steel prices and decreased volumes in its steel mills business segment.