Nucor Exec Sees Growth in Data Centers, Energy Transmission

Nucor EVP Dan Needham discusses the U.S. steel market, trade policy, and the company's sustainability efforts at the 2026 Fastmarkets Circular Steel Summit.

Published on Feb. 19, 2026

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At the 2026 Fastmarkets Circular Steel Summit in Houston, Nucor Executive Vice President Dan Needham discussed the U.S. steel market, including predicted growth in nonresidential construction, data centers, and energy transmission. Needham also addressed Nucor's investment plans, trade policy, and the company's approach to sustainability and decarbonization.

Why it matters

As one of the largest steel producers in the U.S., Nucor's perspective on the steel market and its strategic priorities provide valuable insights into the state of the industry and emerging trends. The company's focus on data centers, energy infrastructure, and sustainability initiatives reflects broader shifts in the steel sector as it adapts to changing market demands and environmental concerns.

The details

Needham highlighted several areas of growth for Nucor, including nonresidential construction, data centers, and energy transmission projects. He noted that Nucor has invested nearly $20 billion since 2020 and has a backlog 40% higher than 2025. The company is also expanding its capabilities to serve the automotive and consumer markets. On trade policy, Needham defended the Trump administration's tariffs, saying they have reduced imports and supported the U.S. steel industry. Regarding sustainability, Needham emphasized the importance of transparency around embodied carbon and taking actionable steps towards decarbonization, rather than just setting long-term net-zero targets.

  • Nucor entered 2026 with a backlog 40% higher than 2025.
  • Nucor has invested nearly $20 billion since 2020.
  • Nucor's new electric arc furnace facility in Apple Grove, West Virginia, is expected to come online this year.

The players

Nucor Corp.

A Charlotte, North Carolina-based steelmaker and one of the largest steel producers in the United States.

Dan Needham

The executive vice president at Nucor Corp.

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What they’re saying

“There's excitement about where markets are going. Since 2020, Nucor has invested nearly $20 billion, and we're coming near the investment of that investment campaign.”

— Dan Needham, Executive Vice President (Recycling Today)

“If you look at the world today, we have over 600 million metric tons of excess steel capacity—that's roughly six times the U.S. market. That's insane, and that's continuing to rise.”

— Dan Needham, Executive Vice President (Recycling Today)

What’s next

Nucor plans to continue investing in its facilities and expanding its capabilities to serve growing markets like data centers, energy infrastructure, and the automotive industry.

The takeaway

Nucor's strategic priorities and market outlook reflect the evolving dynamics of the U.S. steel industry, as the company navigates trade policy, sustainability concerns, and shifting customer demands. The company's focus on transparency, actionable decarbonization steps, and targeted investments suggests a proactive approach to staying competitive in a rapidly changing market.