WRAPUP 1-Nucor sees loss; Steel Dynamics lags Wall St

* Nucor sees 10-15 cts/share loss in Q4

* Steel Dynamics sees EPS of 5-10 cts, below Wall St view

* Nucor shares up 0.3 pct; Steel Dynamics rises 1.2 pct

NEW YORK, Dec 16 (BestGrowthStock) – Nucor Corp (NUE.N: ) said it
would post a fourth-quarter loss because of rising costs of
scrap metal and stagnant pricing for its products, while Steel
Dynamics (STLD.O: ) issued a profit forecast below Wall Street
expectations.

Nucor, the biggest U.S. steelmaker, estimated its quarterly
loss at 10 cents to 15 cents per share, compared with a profit
of 7 cents in the third quarter. Analysts on average were
expecting earnings of 4 cents, according to Thomson Reuters
I/B/E/S.

But the company said it had been able to raise prices for
all steel mill products over the last 30 to 45 days, leading it
to be “cautiously optimistic” about the first quarter even as
raw materials costs continue to rise.

Steel Dynamics said it expected a fourth-quarter profit (Read more your timing to make a profit.) of
5 cents and 10 cents per share, below analysts’ expectations of
11 cents.

The company said it might write down the value of two idled
fabrication plants, which would lead to a charge of between $13
million and $15 million.

Nucor shares were up 0.3 percent at $43.48 on the New York
Stock Exchange, while Steel Dynamics rose 1.2 percent to $17.26
on Nasdaq.
(Reporting by Matt Daily; Editing by Lisa Von Ahn)

WRAPUP 1-Nucor sees loss; Steel Dynamics lags Wall St