Cargill is expanding! The company “announced this week that it would build its eighth U.S. steel processing center in Windsor to meet increasing demands for steel products in the manufacturing and shale oil industries. The 60,000-square-foot facility will create 25 new jobs in the next three years. The steel facility would follow plans to build an oils and seeds innovation center in Fort Collins,” reports Northern Colorado Business Report.
“The plant will process hot rolled steel coils into cut-to-length steel sheet and plate products for customers in 15 Western and Midwestern states. It also will serve as a distribution center for steel produced at Cargill facilities in Illinois and Oklahoma.”
In metal price news for steel…
After two changeless days on the LME, the steel billet 3-month price closed at $300.00 per metric ton on Thursday, January 9. Also on the LME, the steel billet cash price rose 1.7 percent to $300.00 per metric ton.
Chinese steel closed mixed yesterday. The price of iron ore 58% fines from India was range bound. After remaining flat for three days, the price of Chinese coking coal fell 0.7 percent on Thursday. After holding steady for the past few days, the price of Chinese HRC fell 0.3 percent.
After a 0.7 percent increase, the US HRC futures contract spot price finished the day at $675.00 per short ton. The US HRC futures contract 3-month price inched up 0.5 percent to $638.00 per short ton.