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NUE - Wobbly Pricing And Uncertain Demand Weigh On Steel Dynamics
Nucor Corporation
I haven’t been very bullish on U.S. steel companies, and I don’t feel like I’ve missed out on much, with Steel Dynamics (STLD) and Nucor (NUE) both down almost 10% over the past year. Steel Dynamics’ share price is getting more interesting again, but I’m concerned that the market will take the restocking demand we’re seeing now as a new starting point and overestimate potential volume and price growth in 2020. To that end, I think Steel Dynamics management is probably overly optimistic with respect to its demand and pricing expectations