In its quarterly earnings guidance, the steelmaker is estimating earnings in the range of 30 and 35 cents per diluted share, a decline of about 61 percent from the third quarter of this year. Nucor said the decline comes mostly on lower margins at its steels mills, particularly its sheet mills. It also said its raw material division is moving toward a loss on lower direct-reduced iron prices.

But looking to the year ahead, Nucor said it is optimistic.

For one, it said it expects trade cases related to cut-to-length plate and rebar to be finalized in 2017, joining a list of protected products that includes corrosion-resistant, hot-rolled and cold-rolled sheet.

Secondly, fourth-quarter trends suggest positive movement is ahead, it said. 

“Prices have increased throughout the fourth quarter for our sheet, bar, structural and plate mills. Scrap and other commodities prices have been increasing as we approach the end of the year. Service center inventory levels remain low. We believe higher input costs and declining imports are now causing the market to find an improved and more sustainable level that we expect to benefit 2017,” the company said.