Nucor’s belief that the fourth quarter couldnbe the most challenging of the year and that there is toonmuch capacity in the US market has worried some rawnmaterials suppliers, who fear that the company’s outlooknmay be representative of the US steel industry as anwhole.n“There’s a total lack of demand in the economy,” DannDiMicco, Nucor president, chairman and CEO, toldnanalysts on the company’s third-quarter earnings call lastnweek. He said that with the US economy only growing atnaround 1.1%, “Steel consumption doesn’t grow at thosenlevels.” DiMicco said that, historically, GDP growth of 3%nwas needed to see increases in steel consumption.
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