Due to the easing COVID-19 epidemic and the accelerated vaccination in the US, the US’ economy recovered and the steel demand from downstream industries rebounded in the first quarter of this year.

Driven by great increases in steel shipments and higher average sales price of steel, Nucor Corporation, a producer of steel and related products in the US, reported that its net sales revenue in the first quarter was up by 33.4% quarter on quarter and up by 24.8% year on year to around US$7.02 billion.

During the period, Nucor's EBIT (earnings before interest and taxes) surged by 495.4% quarter on quarter and 789% year on year to US$1.298 billion. The net profit attributable to shareholders of listed companies hiked by 136.1% quarter on quarter and even soared by 4610% year on year to US$942 million, hitting a historical high in a single month.