Minis blame lower prices for 26 percent fall in Q2 profits

摘要

Chaparral said the main reason for the gains was the strong rebound in US non-residential construction demand. The mini-mill shipped 1.1m short tons of sections in the 1996 financial year, up 10 percent from the previous year. Selling prices rose 13 percent in the same comparison. Most other US mini-mills experienced price declines when compared to last year, but many reported improved prospects for better current quarter earnings. Nucor once again led all mini-mill earners with second-quarter net profits of 55m dollars, down 21 percent from second-quarter 1995 earnings of 70m dollars. Nucor was hit by pre-operating and start-up costs of 19m dollars in the second quarter, up from 8m dollars last year. Sales revenues rose 4 percent from 880m dollars to 911m dollars in the same comparison.