Nucor Forced to Delay Opening of New Direct-Reduced-Iron Plant

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Nucor has delayed the opening of their new Louisiana iron-producing plant until the end of the year after a storage dome collapsed, reports Bloomberg.

“The plant, which will be the world’s largest producer of direct-reduced iron, was scheduled to begin production within a few weeks, the Charlotte, North Carolina-based company said in a statement today. There were no injuries and no environmental impacts, the company said. The dome was one of three on the site.”

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome saw little movement. The price of Chinese ferro-moly continues to hover for the fifth day in a row.

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The price of Chinese primary nickel fell 0.6 percent. The price of Chinese 316 stainless coil held steady. The price of Chinese 304 stainless coil was unchanged. The price of Chinese 316 stainless steel scrap remained essentially flat. The price of Chinese 304 stainless steel scrap was unchanged.

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On the LME, the spot price of nickel declined 1.1 percent to $13,675 per metric ton. The 3-month price of nickel saw a 1.0 percent decline on the LME to $13,770 per metric ton. The Indian nickel cash price rose 0.3 percent to INR 859.70 ($13.70) per kilogram after a two-day drop.