In providing their earnings forecast for the first three months of 2019, each said that they are expecting to report a decline from the fourth quarter of 2018.  However, they said they believe recent price hikes will take hold.

“We believe that sheet pricing reached the low point during the first quarter and are encouraged by the impact of recent price increases,” Nucor said.

Nucor and Steel Dynamics said they were additionally impacted by shipment delays arising from an unusually wet winter.

Steel Dynamics said that although results might not be as good as they were at the end of last year, the market remains healthy.

“The company believes domestic steel consumption will continue to improve through the year,” Steel Dynamics said.