Nucor profit more than doubles as steel earnings rise. Reading Time: 2 mins read CHARLOTTE, N.C. - Nucor more than doubled third-quarter profit as stronger steel pricing and volumes lifted earnings, while the company projected fourth-quarter results broadly matching or modestly exceeding the latest quarter. The steelmaker's October 26 results showed net earnings attributable to shareholders of $1.32 billion, or $5.80 per diluted share, compared with $607 million, or $2.63 per share, a year earlier. Revenue reached $11.25 billion. Earnings in its steel mills and steel products businesses increased from the second quarter, while raw materials earnings declined. Higher costs partly offset the mills' pricing and volume gains. Third Quarter of 2026 Highlights * Net earnings attributable to Nucor stockholders of $1.32 billion, or $5.80 per diluted share * Net sales of $11.25 billion * Net earnings before noncontrolling interests of $1.47 billion; EBITDA of $2.28 billion Chief Executive Leon Topalian said the West Virginia sheet mill produced its first heat in September. Nucor also recently started its second galvanizing line at Nucor Steel Berkeley. The result exceeded Nucor's September 17 guidance of $5.55-$5.65 per diluted share. That forecast had anticipated higher steel mill prices and stable volumes, alongside increased earnings in steel products. Nucor's September announcement described operations across the United States, Canada and Mexico, producing steel bars, beams, sheet and plate alongside products including utility structures and metal building systems. The September update also warned that a $130 million benefit from cash refunds tied to earlier raw-material procurement costs would not recur. Second-quarter results had included a separate noncash benefit of $61 million before tax from a higher valuation of its Helion investment. Other metals producers have also reported higher annual profits. Alcoa's third-quarter earnings, reported by The FINANCIAL on October 16, rose to $483 million from $232 million a year earlier, helped by improved operations and increased production. Alcoa's alumina output increased 11% from the second quarter to 2.5 million metric tons. Aluminum production rose 2% to 649,000 metric tons as smelter restarts added capacity. Nucor finished its quarter with $3.64 billion in cash and short-term investments. Its $2.25 billion revolving credit facility remained undrawn. Support Independent Journalism Help The FINANCIAL continue delivering quality business and financial news.Support from as little as $1. If you can, please consider supporting us with a regular amount each month. Thank you

South32 maintains production guidance as it focuses on growth projects. Copper and zinc projects hit key milestones as Hermosa construction continues. Companies Reporter South23 is maintaining its production guidance across all its operations for the 2027 financial year and achieved key development milestones for its copper and zinc growth projects in the first quarter ended September. CEO Matt Daley said on Monday the Sierra Gorda mine in northern Chile increased payable copper equivalent production by 11% on higher planned copper grades and paid a record quarterly distribution of $153m. "Sierra Gorda also commenced execution of the fourth grinding line project, which is expected to increase processing capacity by 25%, increasing our exposure to copper," he said. Manganese production was 14% higher as Australia Manganese benefited from improved operating conditions after the wet season and South Africa Manganese lifted underground productivity at Wessels. Alumina production increased by 1%, with both refineries operating near nameplate capacity, while aluminium production was largely unchanged as Hillside Aluminium continued to test nameplate and Brazil Aluminium ramped-up. At Hermosa, in Arizona, South32 continued construction of underground and surface infrastructure for the Taylor zinc-lead-silver project. During the quarter, net cash increased by $14m to $297m as it received a distribution of $153m from Sierra Gorda, continued the group's investment in growth at Hermosa, and experienced a temporary build in working capital. Last week, South32 shareholders voted overwhelmingly to approve the group's sale of its aluminium value chain assets to Alcoa. At the AGM on October 15, shareholders with 99.18% of the group's shares gave the deal the green light, the group said. In June South32 entered into an agreement to sell its aluminium value chain assets to Alcoa for up to $5.6bn. As part of the transaction, Alcoa will acquire South32's interests in Worsley Alumina, Hillside Aluminium in Richards Bay in KwaZulu-Natal, MRN bauxite mine, the Brazil Alumina refinery and the Brazil Aluminium smelter. The transaction is on track for completion in the June 2027 half year, subject to relevant regulatory approvals, and will reposition South32 as a leading upstream base-metals-focused company with high-margin assets and transformational growth, said Daley. At the AGM, chair Stephen Pearce described the deal as transformational, representing a step change that repositions South32 as an upstream base metals company with high-margin assets and transformational growth. "It will provide us with additional balance sheet flexibility to invest in our next phase of growth, while delivering shareholder returns," he said. Addressing the AGM, Daley said the group believes copper and zinc have attractive fundamentals. It has high-margin assets that can grow production from projects already in construction by 55%. "A large part of that will come from Hermosa's large-scale, long-life, zinc-lead-silver Taylor project. Earlier this year, an assessment of the Taylor project's milestones confirmed its potential to deliver attractive returns and its expected operating life increased by five years to 33 years," he said. Business Day

Alcoa eyes more aluminum capacity, touts key acquisition. Industrial Info Resources is tracking more than US$2 billion worth of active and proposed projects worldwide from Alcoa, including US$1.5 billion worth nearing or under construction Released Monday, October 19, 2026 Reports related to this article: Summary. As aluminum prices gradually ease, Alcoa is expanding its presence through a major international acquisition and is preparing for several capacity additions at some of its North American facilities. A strong-grade market. The global aluminum sector is expected to see demand remain strong in the long term, and Alcoa Corporation is preparing to build out in some of its most active areas. Industrial Info Resources is tracking more than US$2 billion worth of active and proposed projects worldwide from Alcoa, including US$1.5 billion worth nearing or under construction. According to Industrial Info Resources data, nearly all of Alcoa's roughly $560 million of North American investment is at its smelters. Earlier this year, the company announced it was exploring the proposed restart of a potline at its Warrick Aluminum Smelter in Newburgh, Indiana, but the company has not yet made a final investment decision. The potline, which reported annual production capacity of roughly 54,000 metric tons per year, was closed in 2022 due to worn-out and deteriorating conditions. Two other potlines at the facility, each with a 54,000-metric-ton capacity, remain operational. If approved, the line would take up to two years to restart, according to the company. Industrial Info Resources offers more information on the proposed potline restart in its Global Market Intelligence (GMI) Metals & Minerals Plant and Project databases, where subscribers can find details-including construction schedules, investment values and necessary equipment -in a project report and plant profile. Operational facilities set for significant investment include Alcoa's smelting complex in Becancour, Quebec, which produces 462,000 metric tons per year of aluminum ingots. The company is performing a series of upgrades and equipment installations across the facility through the end of the year, and is preparing for rebuilds on its Anode Furnace 2, which produces about 77,000 metric tons per year. Alcoa also is weighing proposed, similar rebuilds on Anode Furnace 1. Subscribers can learn more from a plant profile and detailed reports on the upgrades and installations, and rebuilds to Anode Furnace 2 and Anode Furnace 1. Aluminum prices have been coming off multiyear highs from earlier in the year, which were fueled by supply disruptions related to the conflict surrounding Iran and hefty U.S. import tariffs waged by the Trump administration. William Oplinger, the chief executive officer of Alcoa, said in a quarterly earnings-related conference call that "the timing of a full recovery to pre-conflict production levels in the Middle East remains uncertain." "This tightness is particularly relevant in North America and Europe, both of which remain structurally short of metal," Oplinger said. "Our order book remains solid, with significantly less volume available for sale than at this point last year." By the Numbers * More than US$2 billion: Total value of active and proposed projects worldwide from Alcoa * Roughly $560 million: Alcoa's total investments in North America, largely at smelters * US$4.1 billion: Estimated value of Alcoa's acquisition of South32's AliGroup Building out down under. In the earnings call, Alcoa executives discussed their company's ongoing plans to acquire AliGroup, which comprises the bauxite, alumina and aluminum-smelting assets presently held by Australian miner South32 Limited. South32's shareholders approved the US$4.1 billion transaction last week, and it is on track to close in the first half of 2027. AliGroup's assets include: * an 86% ownership in a bauxite mine and processing plant in Boddington, Western Australia; see plant profile * an 86% ownership in an alumina refinery in Worsley, Western Australia; see plant profile * full ownership of the Hillside Aluminum Smelter in Richards Bay, South Africa; see plant profile * a 33% ownership of Mineração Rio do Norte (MRN), which owns the Porto Trombetas Bauxite Mine Complex in Oriximina, Brazil; see plant profile * a 36% ownership of an alumina refinery and a 40% ownership of an aluminum smelter in Sao Luis, Brazil, where Alcoa already owns 54% and 60%, respectively; see plant profile Industrial Info Resources is tracking more than US$500 million worth of active and proposed capital-spending projects at these plants, including an expansion to the bauxite mine and a new transmission line at Porto Trombetas. The expansion is intended to replace a separate area of the mine that is facing depletion and extend the asset's operational life to 2042. Subscribers can learn more from detailed project reports on the expansion and transmission line. "The AliGroup acquisition continues to advance," Oplinger said in the earnings call. "The asset's strong first half 2026 performance reinforces our confidence in the strategic and financial rationale for the transaction." The Industrial Info Resources GMI Project and Plant databases offer a full list of detailed reports for projects mentioned in this article, and a full list of related plant profiles. Industrial Info Resources also offers a full list of reports for active and proposed projects worldwide from Alcoa. Key Takeaways * Aluminum prices have been coming off multiyear highs from earlier in the year. * Alcoa executives say North America and Europe remain structurally short of metal. * The company's acquisition of South32's AliGroup is on track to close in the first half of 2027. About Industrial Info Resources Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news, and analysis on the industrial process, manufacturing, and energy-related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified, and verified plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 trillion (USD).