April 22 (Reuters) - Steelmaker Nucor Corp missed Wall Street estimates for first-quarter earnings on Monday, hit by lower average selling prices and decreased volumes in its steel products segment.

The company has been grappling with easing demand for its products, such as girders, decks, fasteners, wires, fabricated concrete reinforcing steel, from the warehousing sector, which is pulling back from the COVID-19 pandemic highs.

Nucor's shares fell 5.5% in extended trading as quarterly revenue also fell short of estimates.

On an adjusted basis, the company reported a profit of $3.46 per share, missing the average analyst estimate of $3.66, according to LSEG data.

Last month, Nucor forecast first-quarter adjusted earnings to range $3.55 to $3.65 per share.

Downstream steel product shipments to outside customers fell 15% from a year earlier. Earnings before income taxes (EBIT) for the segment plunged 47% to $511.6 million for the three months ended March 30.

However, steel mills segment EBIT rose to $1.10 billion from $838.4 million a year earlier, lifted by higher volumes, particularly at its sheet mills.

"Nucor's performance continues to be strong even as steel market conditions have come off their post-pandemic record highs," CEO Leon Topalian said in a statement.

The Charlotte, North Carolina's revenue of $8.14 billion also missed estimates $8.26 billion.

Nucor expects a sequential decline in second-quarter earnings in the mills and products segment, owing to lower average selling prices. It projected a rise in its raw materials segment. (Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Sriraj Kalluvila)