Nucor & The Nuclear Company Team Up to Boost U.S. Supply Chain

Nucor Corporation NUE entered into a collaboration with The Nuclear Company, which is aimed at revitalizing the domestic nuclear supply chain and enhancing U.S. manufacturing capacity. The Nuclear Company is focused on deploying gigawatt-scale nuclear power across America.

Nucor, which is among the prominent players in the steel space, along with Steel Dynamics, Inc. STLD, Cleveland-Cliffs Inc. CLF and ArcelorMittal MT, is focused on rebuilding America’s energy infrastructure. The resilience in the infrastructure will repower the domestic energy sector, reducing dependence on foreign suppliers.

The companies will evaluate the promotion of steel materials and related manufacturing that meet the stringent American Society of Mechanical Engineers’ NQA-1 certification standard. The review process will also take into account critical factors such as energy infrastructure and workforce availability to promote reinvestment in the industrial asset base. The initiative was announced following the recent executive orders by President Donald Trump, calling for 400 GW of nuclear reactors by 2050, including 10 large-scale reactors to be under construction by 2030, to ensure the availability of enough baseload power to lead in AI worldwide.

America’s nuclear sector supply chain has been suffering as China and Russia have expanded reactors and exported technology aggressively. The U.S. Department of Energy reported in 2022 that America lacks large forges to produce gigawatt-scale reactor vessels. Moreover, the World Nuclear Association also found a decrease in the number of American facilities certified to produce commercial nuclear-grade components by over 40% in the past three decades. In comparison to the 37 reactors China built in the past decade, the United States built just two.

Nucor recently announced its earnings guidance for the third quarter of 2025, ending Oct. 4, 2025, in the range of $2.05 to $2.15 per share. While the company’s guidance indicates a sequential decline, it suggests year-over-year growth. The earnings are expected to decrease across all three operating segments compared to the previous quarter. The steel mills segment is expected to witness decreased earnings due to lower volumes and margin compression, while the steel products segment’s earnings are expected to decrease from higher average costs per ton as pricing and demand remain stable.

Another industry leader, Steel Dynamics, also announced its third-quarter 2025 earnings guidance. The company expects third-quarter earnings to improve in each of its three operating platforms. STLD forecasts earnings in the range of $2.60 to $2.64 per share for the quarter. The third quarter’s profitability in the steel operations is also expected to improve from its sequential second-quarter results, owing to strong shipments and metal spread expansion as scrap raw material costs are expected to decline more than average realized steel pricing.

Cleveland-Cliffs, on its second-quarter call, revised its full-year 2025 guidance, reflecting updated expectations across certain key financial metrics. Capital expenditures are now projected to be approximately $600 million, down from the previously anticipated $625 million. Selling, general and administrative (SG&A) expenses have also been lowered to around $575 million from the earlier estimate of $600 million. CLF continues to target steel unit cost reductions of approximately $50 per net ton compared to 2024.

Steel giant ArcelorMittal said that it faces softer demand, especially in the United States, where flat steel consumption is now expected to fall slightly in 2025 (-2.0% to 0%) due to tariff pressures and cautious customers. Section 232 tariffs are also weighing on Canada and Mexico. Europe remains more resilient, with flat steel demand projected at -0.5% to 1.5%, supported by low rates and potential policy measures. Brazil’s outlook has improved to about 2% growth, while India leads global expansion with 6-7% growth driven by infrastructure investment. Overall, steel demand outside China is now forecast to rise 1.5-2.5% in 2025.
 

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