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Contents

1.0 Executive Summary……………………………………………………………………………..P1
2.0 Introduction……………………………………………………………………………………. P2
3.0 Corporate Objectives……………………………………………………………………………P2
4.0 Environmental Scanning………………………………………………………………………..P2
5.0 External Analysis………………………………………………………………………………. P3
5.1 PEST analysis………..………………………………………………………………….P3
5.2 Industry analysis……………………………………………………………………….. P4
5.3 Porter’s 5 forces…...…………………………………………………..…….…………..P6
5.4 SWOT external analysis……….……………………………………………………..... P9
5.5 SWOT internal analysis…………………………………………………………………P10
6.0 Organizational Analysis……………………………………………………………………….. P11
6.1 Resource-view based analysis…………………………………………………………. P11
7.0 Gap Analysis…..………………………………………………………………………………..P13
7.1 Critical success factors………………………………………………………………….P13
8.0 Strategic Options………………………………………………………………………………..P14
8.1 Porter’s generic strategies……………………………………………………………….P14
8.2 Justification of strategies………………………………………………………………..P15
9.0 Action Plan………………………………………………………………………………………P16
10.0 Assessment of Performance……………………………………………………………………P16
10.1 Efficiency……………………………………………………………………………....P16
10.2 Effectiveness………………………………………………………………………….. P16
10.3 Returns of investors…………………………………………………………………... P16
11.0 Conclusion……………………………………………………………………………………. P17

and is one of the top ranked polluters of waste toxic. scrap steel. and technological leadership. It serves customers in North America and makes its presence in other countries such as Brazil.0 Executive Summary The purpose of this case study is to address the strategic issues of Nucor Corporation (Nucor) in the American steel industry. The report further referred about the success of Nucor based on the five most apparent values in Nucor. Nucor traces its origins to auto manufacturer Ransom E. Findings show Nucor’s strategic consolidations through the act of acquisition and mergers that follows a trend in the industry rather than a choice.0 Introduction Nucor Corporation is one of the largest steel producers. REO Motor Car Company. i.e. Much of the drawback of this study is the lack of a quantitative strategic method leading to an accurate decision making. organization’s resources. Through a series of transactions. Mittal. Nuclear Corporation of America. The choice of justifying the use of Nucor is due to the author’s public shareholding interests where realism of association beholds and information easily received. customer service and quality. China. Korea. Nucor has long been the biggest steel producer in America. performance based compensation. suggest possible strategic options and its justifications. and recycler of scrap steel in the United States. steel mills. in 1955. steel fasteners and deck. A limitation for Nucor is the inability to address environmental concerns and achieve corrective milestones. South East Asia and Europe. It will: analyze the environment. Nucor was among the first steel companies in the United States to use electric arc furnaces to melt recycled steel (primarily from junked automobiles). egalitarian benefits. who founded Oldsmobile and then. Nucor’s business stakeholders involve small and medium enterprises and its main worries include large regional and global competitors.A Case Study Review: Strategic Competition of Nucor Corporation 1. which is the decentralized management philosophy. 2. US Steel. Olds. Bethlehem. Nuclear . industry. efficiency and effectiveness. performance gaps and success factors. mini-mill operators. Baosteel. evaluate the strategies and tactics through returns. the company Olds founded eventually became. in 1905. Its business portfolios are mainly in joist girders. In summary.

3.1. A bar mill opened in Darlington. Nuclear Corp. when it installed Vulcraft's top executive.1 PEST 5.  increase profits from outside customers by 15% the following year  generate returns on stockholders’ capital by 20%. measurable and achievable to fulfilling the corporate mission. it became the prototype for today's vast mini-mill industry and launched Nuclear Corp. The government took anit-dumping measure to restrict overseas imports into US. The first of several regional bar mills. They are as follows:  maintain pursue sales growth at increase of 15% the following year.1 Political-legal:. and other issues that would benefit the society and government at large. into a wide range of steel businesses (Nucor. By using the PEST model.bought several companies over the next few years. as president.Rules and regulations are often the bane of many companies that would involve issues such as foreign and fair trade. the company must respond quickly to the information and adapt by altering its strategies and provide environmental scanning that includes external and internal analyis. and Nuclear Corp's controller. suffered through several money-losing years and was facing bankruptcy in 1965. that would soon provide the spark for the company's remarkable evolution.0 External Analysis:To sustain competitive advantage. environmental protection. 5. society and technology can be better understood. the variables of politics. They include:  the dumping of stainless steel by foreign countries below market prices in 1999. economy. South Carolina. Ken Iverson. in 1969. as financial vice president. . 5.0 Corporate Objectives It is expected that any forms of objectives be quantified. 4. including a South Carolina maker of steel joists and joist girders called Vulcraft Corp. The new management quickly sold many of the company's wide-ranging operations to focus on profitable Vulcraft. realistic. Sam Siegel.0 Environmental Scanning Environmental scanning is a management concept by which businesses gather intelligence from the environment to achieve a sustainable advantage. labour. 2007a).

5.4 Technology:.  directly contributes to global warming which will have adverse impact on the future of steel companies. .  many developed countries had developments underway.1. there is a direct increase in employment 300 jobs at Hertford County. Other advances include advanced metallurgical practices. 2000).1.  recently in 2001. only 75% of the capacity of the industry was utilized and much of the potential output was considered lost opportunity. technological inventions are the mainstay of staying ahead:  new innovations like the twin shell electric arc furnace would help mini-mills increase production on lower cost.3 Social:. 5.In large corporations like Nucor. and process control sensors and refinements in casting and rolling. and half of the US steel companies had to fold.  there were high energy costs and weakening exchange rates and local demand. 5. or smog. the sewage discharge which the government had to enact new laws to protect the habitat.  strip casting technology was the next leap forward that would produce think strips of steel and eliminate slab-casting stage and rolling in a hot mill.1. For Nucor:  US government had loan a billion dollars to 9 mills to keep the steel industry competitive.  emissions like nitrogen oxides and volatile organic compounds are key contributors to ground-level ozone. In the same year. which can decrease lung function and aggravate respiratory problems (Department of Justice. more trade tariffs were installed and affected other countries’ economic policies in this industry. even while consumers get to enjoy better steel products.Through the investment of more bases for Nucor.  tax breaks of $155 million were also provided to encourage Nucor to develop new bases which were equally confusing.2 Economic:.Members of the society had adverse impact in many ways:  Nucor had to spend $100 million to settle an environmental suit for allegedly failing to control the amount of pollution released into the air. 25% of domestic steel companies were bankrupt. water and soil. In general.

 advertising and distribution activities should also be extensive in order to penetrate the market.  it also needs to bring such equipment to less developed countries to improve on the steel processing. . Nucor manages to increase its growth capacity and economies of scale by improving on the process of rolling and cutting. 2007b). costs are high and sales revenue is limited.The implications define a good sufficient stretch of resources within the environment’s context and questions such as:  what will be the impact on steel demand in the global market?  will this demand continue to be the same in the next few years?  will other industries performance affect Nucor and how? 5. and prices are competitive. Such overseas markets require much persuasion and acceptance before implementation. which is their niche. but is still growing and adapting to better ways of rolling.1 Industry Life Cycle At introduction stage.2 Industry Analysis 5.2.  other advances include having advanced process control sensors and refinements in casting and rolling that maximized market shares (Nucor. Research development costs must be recouped.  there is little competition for Nucor’s new mini-mill technologies.

the automobile industry is continually looking for lower prices. or Nucor’s joist business. Potential Entrants  wholesale distribution must be more extensive by giving more benefits to distributors. For example. steel seems to be faring worse. Other Stakeholders divestment of certain products or projects sold to reduce maintenance costs and to inject new Buyers cash into other products.  certain existing metallurgical practices need either find new markets or new ways to introduce business.  there are many competitors at this stage procuring these products or processes to increase their market share and strength. and with international markets supplying these cheaper and better steel.  there is a requirement to differentiate these products as these products cannot offer too much value in steel making. but in competition with plastics. Porter’s 5 Forces for individual companies • Relationship tie-up with local stakeholders • Economies of scope and scale in capacity • Intellectual Property Substitutes Buyers Longer Credit Switch loyalty Threats of alternative buys from other . This can be done by giving added value or base discounts to their longterm customers. sales and profits would drop resulting in:   more costs to maintain customers’ accounts. At the mature stage. Registration of manufacturing process rather than products is more useful. Rivalry Among Existing Firms Suppliers Potential entrants • Low barriers for merged high 5. Industry Competitors Many such products would slowly decline.  new strategies are required in the form of consolidation and promotion to increase steel usage in other areas. the company can milk as much revenue from the mature steel grades. such products are more suitable for developing and developed nations.  in the short-run. sales tend to level out due to competitors entering the markets with even newer innovative products.3 companies. Salesperson demonstrations and account tracking would be required.

losses Brand and product identity Customers network and segments Own niches Stakeholders • • • • Government’s backing Word of mouth advertising Media propaganda Potential customers Suppliers • • • • Purchase size Costs of local and global suppliers Service/discounts Become competitors Substitutes • • • Customers switching Alternative product’s offer Effectiveness. Free Press 5. workforce.  having strong alliances with outside parties. minimal costs in research.3. according to Porter (1985). performance and costs? Source: Adapted from M. Competitive Strategy. development and construction can be sourced in bulk purchases and discounts.1 Potential threats In big industries.Porter (1985).Rivalry • • • • Barriers to exit include compensation. although this tends to required high investment in staffs training. local suppliers and customers are not easily replicated that can lead to:  Nucor’s should maintain good ties with the local government to prevent access of other firms. .  ability to use advanced cutting technologies or inventory management systems will pose a good barrier. the cost of entry is high since local impacts like the number and quality of jobs.

5. concrete .3. customers will not easily recognize and switch to a new company if competitors’ penetration can be prevented. They must predict how steel prices or demand will be in foreign lands.4 Substitutes The threat of substitutes ranges from primary elements of aluminum. longer distribution channels. 5. The primary consideration for substitutes are:  normally to provide a better price or usefulness over the alternative.  the international market of buyers that are generally weaker because they are more fragmented. and outsource the steel making process elsewhere. 5. It is difficult to keep old customer and win new ones if buyers control the distribution channels.  Nucor suddenly exiting its smaller ventures overnight overseas without mention. and servicing these segments is imperative that leads to:  buyers threatening to purchase steel scraps from alternative suppliers apart from Nucor.  computer and automobile makers being consumers that control the vertical buying process. Much of the customers in North America are consolidated.2 Buyers Buyers are perceived as having an advantage when their bargaining powers are strong with little buyers. Steel is a standard homogenous product and is easily copied. plastics. and less legal proceedings. . With better credit and storage facilities. such as a plastic gun for smuggling. Nucor can move up the value chain and retain old customers.3 Suppliers A high bargaining posture with suppliers is perceived as having an advantage and with more access to external and Nucor’s own manufacturers and service centers that:  could provide faster response to its other processing or buying centers.3.  existing buyers tend also to have lesser choices in switching to other suppliers if they are locked in to a long-term agreement. and these agents must have extensive expertise to gain an advantage.3. purchase dubious products.  Nucor uses manufacturing agents to sell its business.

 winning foreign based stakeholders are critical important to access markets and secure loans. It should control production capacity to ensure no overstocks. 5. If the use of other transportation increases.3. 5. not just competition of the products. but is still a threat in the lighter industries. It would not be effective as a standalone firm with no strong connections. try to prevent competitive products from entering the market by learning competitors’ business methods. This would dampen Nucor’s brand identity at the local market. steel cutting.3. This results in:  rivalry between staff in Nucor is sufficiently pleasant to manage with bonus schemes.  better technological processes used to produce improved steel products and their designs. .  barriers to exit are costs associated with capacity leaving an industry where existing resources and assets are high and immobilized.6 Other Stakeholders There is a greater competition the attention of other stakeholders as they provide impetus to better sustainability such as:  having policies that are changeable and should no longer just rely on local networks or niches.g. Nucor would have less business coming from the automobile sector. but in other areas of technology and human capital. Global collaborations had become the norm. threats derived from other steel products that are cheaper and poorer in quality used for housing construction.  Nucor having to strive to avoid being ambushed by smaller companies that can offer value or poorer products which are less profitable. Being a large company. e. indirectly.  to improve quality and increase economies of scale. new identity difficult to build. and any closure would be substantial in costs. This is because foreign loans are hard to secure. there are many employees to be paid. taxes are high. Some substitutes like aluminum maybe a poor alternative to steel. thus using stakeholders to reduce barriers would be a competitive edge.5 Rivalry Rivalry had been an intense phenomenon.

2 Threats  the steel industry back in year 2001 took a dive due to 9/11 and the recession.000 jobs had been lost in the US steel industry over the past four years and 30 companies have gone bankrupt.16 3. but with fulfilling performance that exceeded international dimensions.3 0.5.25 1.  demand for pig iron was a good reason for growth.42 US Steel Scraps 0.25 2.1 0.00 - 4. 2007).2 0.25 Anti-dump law 0. and American steel companies were building flat-roll mini-mills.50 Good partnering/acquisition chance 0.8 0.51 Import duties 0.15 1.15 2 0. Market-distorting practices can spill over into the global marketplace by helping large steel companies maintain or increase market share.58 Total Scores 1.8 percent in 2007 (Bureau of Economic Analysis.  more than 20.6 0.4 SWOT – External Factor Analysis Weighted Score External Factors Weight 2 Rating 3 4 Merge with global suppliers 0.14 3.24 Products expansion 0.60 Decline of US steel industry 0.2 0.  success not with building better products.36 1 Opportunities: Threats: 5.78 Pollutants worldwide 0. .0 0.25 3.15 2. 5.3 Asian European competitors 0.  dumping of stainless steel by foreign countries fueled Nucor to build a multi-million steel mill in North America.4.1 Opportunities  US gross domestic product produced by labor and property increased at an annual rate of 3.4.18 Potential recession 0.3 0.2 3 0.8 0.

80 Korean plants elsewhere.15 2.5.91 1 4 Strengths: Weaknesses: Outsourcing of services Brand alignment Taxes Social responsibility Cost cutting model Total Scores 5.25 3.7 0.5 0.30 0.1 Strengths  it scores high in finance due to its credit standing.  able to invest in internal supply chain management and reward talents.5 0.25 1. 2002).00 - 4.5 Safety first adoption 0.20 2.30 0.15 1.25 Know-how of buying than building 0. This did not help that China had also slapped import taxes.0 0.25 2.  there is potential to evolve safety measures.5 0.23 0.88 1.25 2. In turn.25 3.e.15 2. impose tariffs as high as 30% on imported steel has infuriated key US trade partners of South Korea and the European Union (Shorrock.5 Internal Factor Analysis Weighted Score Internal Factors Weight 2 Rating 3 Financial strength 0.5 0.88 Performance based reward systems 0.2 Weaknesses . i.6 0. these nations had to increase their capacity.5 0. 5.39 Internal supply chain 0.10 3. 5.0 0.0 0.0 0.68 0.5.

Organization Analysis Organization analysis would involve a thorough understanding of Nucor’s resources targeted at capabilities of the organization that will assist it to gain a sustainable competitive advantage. This encourages:  intra-firm knowledge between Nucor’s technical service centers.  costing cutting resulted in poor control of toxic emissions thus.  6. strip casters) were desired.g. Other competencies in the format of performances are shown below. Nucor’s cost cutting values are reactive as its desperate steel executives search for better methods to cut costs with very thin profit margins. Collinson (1999) describes this as corporate “capabilities” that are brought together to identify differences between competitors and company. 1 2 3 4 Duration 5 Nucor’s Performance Analysis S I N T E R M E D 6 . 6.  corporate skills to acquire ventures to develop technical areas (e. 6.  other competencies lacking are the know-how of reducing pollutants. This expertise if harness would save Nucor from meltdown.Relevant knowledge. skills and information are indispensable resources to Nucor.1 Resource-Based View Analysis It is critical to identify and evaluation Nucor’s potential resources. more fines. Overall. following the paths of other European companies.1 Competencies:. The fundamental principle of the RBV is that the basis for a competitive advantage of a firm lies primarily in the performance of valuable resources at the firm’s disposal (Wernerfelt. p172). The resource-based view (RBV) is an economic tool used to determine the strategic resources available to a firm. production sites. Such emissions lead to closing of old sites and costly modifications.0 would lead a drop in marketing overall. 1984.1. taxes and less responsibility. the score is above national standard.

Weight Rating Weighted Score Decentralised.20 2.6 1.00 Internal supply chain 0.25 4. knowing that cost cutting is only short-term.  the overall factors suggest a focus on increasing efficiencies for the short-run to adapt to mistakes overseas and any potential recession. .25 4.  there must new reengineering methods to the product chain. 0. Intermediate  score for good partnerships is highest.  such efficiencies will create a lean organization in bad times and will not see a collapse of the steel industry. - Short Term  difficult to sustain on mere cost cutting strategy and tax reduction.5 0. which inadvertently is the worst weakness.56 X X Social responsibility 0.0 1. which would enable leverage on more advanced vertical and horizontal acquisitions or instant buyouts.63 - - - Total Scores H O R T I A T E L O N G Comments X More incentives and empowerment X More vertical acquisitions Less foreign competition Expansion imminent.42 X X Cannot sustain forever Good partnering/acquisition 0.16 3.15 X X X 1.5 X X Reduce emission Cost cutting strategy 0.5 0.00 - 3. which will initially increase research costs. motivated managers for individual cust.0 0.  Nucor should maintain its edge over a 3-year term by structuring its operations for effectiveness and adaptability.14 3. Long Term  company’s most important focus is on a decentralized management team with a lack of top leaders.

53 0.2 1. It would be expected that these entrepreneurs be groomed in the next 5-10 years.8 2.78 Key Factors of Success Integrative Role 0.59 0.05 National benchmark 0. Clarifications for these gaps would mean suggesting key strategic options that are:  having a good leadership and adapting to business change go hand in hand as shown by Nucor and Mittal.9 1.05 Technology 0. Key Success Factors NUCOR Weight BAOSTEEL MITTAL Rating Weighted Score Rating Weighted Score Rating Weighted Score 3.5 1.51 3. .42 0.7 3 4 3.05 2. and an intra-entrepreneurial solution is badly needed to stimulate Nucor.11 0.30 2.2 0.6 3. Mittal has not fared better in this area.5 1.5 3.15 Advanced Process 0.  analysis shows that current conditions are not particularly bright due to weak American growth.1 2 0.5 3. 2001 The factors and gaps can be measured by using indexes. 7. Unless the steel industry collapses in the face of overheating or over investments in steel companies.14 Low costs effect 0.3 2 0.15 change Good leadership 0.8 4.33 3.2 4.0 2.68 0.60 0.30 3. Nucor should see performance improvements in its long-term strategic trends.15 0.8 4.00 Source: Wheelen and Hunger.63 0.76 0. Nucor’s staffs continue to innovate new equipment and satisfy individualized customer needs for better profit margin.3 0.12 Total 1.24 4.19 0.5 2.0 Gap Analysis 7.76 0.34 0.3 0.6 0.7 1.23 0.18 Motivated employees 0.1 Critical Success Factors Critical success factors are elements that are vital for a strategy to be successful and can be benchmarked for gaps against other competitors.09 0.25 0.16 Dealing with business 0. A change in good leadership brings higher motivated employees for Nucor.27 0.40 3.13 0.55 0.

 efficient shipment and pricing systems are required to guarantee quick transfer of products. Steel products should be designed for replication to other business or consumer products not on the market. suppliers and agents. 8.  Nucor scored lowest in benchmarking nationwide.0 Strategy Options 8. This coupled with the capability of research and development to innovate better shapes and sizes of steel for multi-purposes become critical for differentiation. the second highest score came in the form of key areas such as service centers go well with proximity to the factory.  Mittal has an edge as it is able to use technology and advanced process to better integration with effective benchmarks. but with great financial costs.  needs to improve on the brand image and reputation. 8.  low cost effect occurred due to the integrative roles within Nucor.1 Cost Leadership  Nucor has sustained capital flow for better production methods and investment loads for tieups and overseas collaboration. but rather on the amount of pollution released into the air. but this had little effect on other factors. .  exports to foreign nations also risk fluctuation in currencies if US dollars appreciate with inflation. It is also not due to product defects. a factor that needs slight improvement for Nucor comes in the form of integrative partnership roles between buyers.1 Porters Generic Strategic 8. thus saving manpower and transport costs.1.  motivated employees automatically translate to responsive personnel. water and soil. The can help a service center look more integrated and be more proactive to demands of customer’s requirements.  Nucor’s endearing policies of costs control of labor and operational funds flowed through regional lock-boxes have not marginalized their objectives.2 Differentiation  reckoned that there is a need for stronger selling and marketing of homogenous steel to match all kinds of needs.1. Baosteel has a tremendous edge in cost cutting due to lower labour and equipment costs and higher labour turnover in China.

 cost of being different may be too great for preventing brand switching. Such a strategy could then justify many options from a forward integration. or a vertical integration strategy between the mills and metal service centers (internal or outsourced) to allow quicker delivery. Brazil or Africa). but to preempt on markets that are untapped (ie.1. volumes are lower. 8. propaganda and conflicts with the community (Porter & Kramer. since their mass marketing approach does not allow for segregation of customers. regardless of patents or not. there is also a lack of awareness in Nucor’s national image and reputation (unlike US steel). The costs gap widens. or NKK and Kawasaki’s merger. moving the chain value up. As economy improves. and customers are better served. Buyers’ needs for differentiating factors become unimportant. and construct a unique form of expansion through mergers and acquisitions that could provide targets which are inaccessible by other competitor.  concentrating on a segment that attempts to achieve either a cost advantage or differentiation. which could expand steel processing to strip-casting with other companies. . Wholesale buyers may sacrifice namesake and features for costs especially in China or India. 8. 2006).4 Reasons for Strategic Justification  Nucor should use a differentiation strategy to:  produce steel through a variety of designs and sizes.  imitation of steel materials also reduces need for differentiation.  niche area could be focused on production methods that attach societal responsibilities and sustainable activities.  and avoid cost leadership is deemed too risky in the poor American economy of bad debts.  be cost effective with shared risks and responsibilities in valuable technology transfers.1. reducing unwanted pollutants.3 Focus Combination of the focus strategies are directed as:  to not consolidate as akin to Mittal’s acquisition.  strong cooperation from internal subsidiaries and overseas channels also sets a good selling fundamental. niche strategies could target untapped places or usage.

 accounting department to determine the cost accounting of financial payback in Nucor’s plants and other smaller firms for future milking of the cash cows for the next 1 year. research and development.2 Effectiveness  total tons of steel which are produced.  number of Nucor’s steel mills constructed.  which internal businesses are self-sufficient and readily meet the divisional objectives.0 Action Plan A series of well-timed and budgeted programs for the year 2008 include:  administrative executives to connect with all related government departments and reorganize websites and archive email addresses for future references in promoting causes or being informed of latest regulations  senior managers must constantly source for more outfits that complement the production of steel. and inventory managers to establish quality circles once a month to brainstorm concepts on improving quality of products. in the next 6 months  HRM to immediately establish incentives and training programs for workers to cross apply skills.1 Efficiency  Nucor’s management style is autonomous and supported by the existence of a lean and vertical and horizontal internal system. recruits and talents  production. . which will form as the mainstay.9. services and differentiation of intelligent distribution.0 Assessment of Performance 10.  there had been little purported absenteeism or harassment cases.  business-marketing staff to promote activities that increase societal marketing causes and exemplify Nucor’s goodwill and eco-friendly ways. 10. 10.  the relationships between divisional managers were competitively friendly due to minimal contact.  access and feedback to top management about performance and innovative ideas were open and quick. This will require extensive search for contacts. which allow the managers to delegate tasks and control decisions on matters. processes and automation.

Chao. it has adopted various integrated growth strategies with other firms within the community in the form of differentiation and divestment approaches as well. References Bureau of Economic Analysis (2007). shareholders) with better paybacks and satisfaction. P. human and operational resource capabilities. all to service its stakeholders (esp. from http://www. It does not however mean that should there be no earnings for that year. They can still retrieve their dividends through retained profit earnings from past years.’ Energy. ‘U. Retrieved July 24. Nucor is highly sensitive to balancing its cost cutting measures and achieving social responsibilities. H.923. economic accounts’.0 Conclusion In summary.3 Returns to Investors  returns to investors are profits that are made by the company relative to the investments and paid to shareholders.S.  piece-rating schemes aid the production effectiveness 10. U. Thus.gov/. shareholders will not get any dividends. ‘Global electricity transformation: The critical need for integrated market design and risk management research.31 p.  money can also be ploughed back to the company to achieve more yields. (2005).S. assessments should be done on employees’ performances and behaviour such as readiness to innovate and take risks. 2008. . There is extensive knowledge on producing and automating newer process and products to stave off Asian and European competitors.  dividends are paid out after all other payment factors have been considered. 11. ultimately to boost its poorer marketing image and reputation. Vol. Department of Commerce. Nucor is in a strong position to challenge for a bigger market share of the steel industry based on its financial.bea.

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