Nucor suspends part of production after cyberattack

Nucor, the largest steelmaker in North America, has suspended certain production at some facilities after detecting unauthorized interference with its computer systems. This was reported by Bloomberg.

The company has taken the systems that were potentially affected offline and taken other deterrent measures. This was stated in a report filed with the Securities and Exchange Commission on May 14.

Nucor is investigating the incident with external cybersecurity experts and has notified federal law enforcement agencies, and is in the process of restarting the affected operations.

According to media reports, the company did not specify which facilities were affected. In total, Nucor operates at about 300 locations, from processing centers to large plants.

Nucor’s net sales for the first quarter amounted to $7.83 billion. During the period, the company shipped 6.83 million tons of steel to external customers, up 10% year-on-year. The steelmaker expects profit growth in the steel products segment in April-June this year due to higher volumes.

As GMK Center previously reported, Nucor announced a 1.1% or $10/mt reduction in its weekly spot price (WSP) for hot rolled coil (HRC) for the week of May 12-18 to $900 per short tonne for all production facilities except California Steel Industries (CSI), where the price is $960/mt (-1%). This was the second consecutive decline in weekly offers and the third since the beginning of the year.