Nucor Corporation is an American manufacturer of steel and steel products, and the largest steel producer and scrap metal recycler in North America. The company operates a vertically integrated business model centered around electric arc furnace (EAF) technology, which melts scrap steel to produce new steel products. This mini-mill approach provides Nucor with a variable cost structure compared to traditional blast furnace operations.
Nucor organizes its operations into three primary segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment is the company's largest revenue driver, accounting for approximately 61% of sales to external customers in 2024. This segment produces hot-rolled, cold-rolled, and galvanized sheet steel, as well as plate, structural, and bar steel products. The Steel Products segment manufactures downstream items such as steel joists, deck, fabricated concrete reinforcing steel, cold finished steel, fasteners, metal building systems, and utility structures. The Raw Materials segment supports the company's supply chain by producing direct reduced iron (DRI), processing ferrous and nonferrous scrap metal, and brokering various metals and ferro-alloys.
Geographically, Nucor's operating facilities and customers are predominantly located in North America, though it also maintains international trading and distribution companies. The company's competitive position is supported by its decentralized management approach and significant scale in scrap recycling, processing around 18 million gross tons of scrap steel annually. By controlling both its raw material inputs and downstream product manufacturing, Nucor vertically integrates its operations across the steel production lifecycle.
