By Bob Tita

Steel demand isn't weakening, even after some customers moved up their purchases to avoid the expanded 25% tariff on steel that started in March, according to the biggest U.S. steelmaker.

Nucor executives said some steel buyers stepped up orders early this year, anticipating that Trump's tariffs would make imported steel more expensive and drive up domestic prices too. But Nucor's customers haven't stopped buying, defying some industry analysts' predictions that pre-tariff purchases would destroy demand later in the year.

"What we've seen is no drop off at all in terms of order entry rates and inquiries," Nucor CEO Leon Topalian said during a conference call. "It's just been strong."

Nucor, the largest steel maker by sales in the U.S., said its order backlog in its steel business is 25% higher than last year at the same time. Topalian said the backlog for steel beams used in buildings is at a record high.

Nucor has been an enthusiastic supporter of additional tariffs on steel. Topalian said the duties have driven down demand for imported steel, opening more of the domestic steel market to U.S. producers.

"It's having a positive impact," Topalian said.

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April 29, 2025 13:10 ET (17:10 GMT)

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