Charlotte, N.C.’s Nucor Corp. also felt the squeeze on profits in its most recent earnings release Oct. 22, noting overall operating rates at its steel mills decreased to 69 percent for the three months ending Oct. 3. A year ago, Nucor reported its mills were running at 81 percent. Nucor also warned stakeholders that the end of the year would be tough too. “A slowing economy in China is causing further global overcapacity and resulting in significant levels of steel imports into the U.S. market,” reads a company statement.
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