Jim Cramer - Mad Money Nucor Corp. NUE-N BUY Dec 07, 2022

The best steel company, but nobody will buy this if we enter a recession. This could go even lower, so wait for a lower price.

Steel tariffs that the U.S. has placed on China are good for Cleveland Cliffs but great for Nucor. Also, Nucor benefit from being a low-costs producer.

With so few steel companies, Nucor and Cleveland Cliffs enjoy scarcity value with enough business to keep pricing up, though Nucor has a much better balance sheet. It reports Monday.

It reports Monday. It grows by acquiring that could buy US Steel.

The country's best steel company. They just reported, but issued worsening guidance, and shares sank.

Shares are plunging with copper prices.

Trump will likely slap tariffs on steel from China, making Nucor a buy.

China, through trans-shipments, is dumping steel through Mexico to pressure steel prices, therefore hurting Nucor. If and when Trump stops this, then NUE shares will rocket.

They report Monday. Been hammered by economic weakness, but also benefit from the tariffs. Watch what they have to say.

Jumped today by 10% after Trump announced 50% tariffs on steel; this will let US steelmakers raise prices. NUE peaked at $180 in April 2024, then has slid below $120, but is now mounting a comeback, driven by tariffs. BMO upgraded it today. But he wonders if higher tariffs will help the US steelmakers immediately, and tariffs alone aren't a reason to buy the stock. Rather, he'd buy on weakness. Look what happened during the 2018 tariffs--NUE shares actually fell, though popped occasionally. He'd like to see signals that the overall economy is thriving and that there is demand for steel.