Steelmakers Find Strength to Expand Under Tariffs
Nucor, Steel Dynamics, others expect efficient mills to make profits even if prices fall
Steelmakers in the U.S. are expanding steel production capacity, betting that recent falling prices won’t last and tariffs will shield them from foreign competition.
The build-out by Nucor Corp., Steel Dynamics Inc. and a half-dozen other companies would add 16 million tons of steelmaking capacity in the U.S., an 18% increase over the 90 million tons produced here in 2017, before tariffs took effect.
Steel...