Alliance Steel Opening Plant in Alabama; Chinese Coking Coal Drifts

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Alliance Steel is opening a new plant. The “Chicago steel company plans to move into the former Delphi plant building No. 22. Nexus AG Holdings is buying the 300,000-square-foot building across U.S. 31 from Calhoun Community College. Alliance Steel LLC will move a steel coil company into the building,” reports The Decatur Daily.

“Tom Hill, Limestone County Economic development authority chairman, said this is a $10.88 million investment.”

“Alliance plans to hire 45 employees over a three year period.”

“Alliance will buy steel coil from companies like Nucor. It will then uncool, slit and cut the coils for its customers.”

In metal price news for steel…

The price of Chinese coking coal closed Thursday, January 23, halting its three-day flat run with a 2.1 percent drift. The price of Chinese HRC remained steady. Chinese slab held its value yesterday. The price of iron ore 58% fines from India was range bound.

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The cash price of steel billet showed little movement on Thursday on the LME at $350.00 per metric ton. For the fifth consecutive day, the steel billet 3-month price held flat on the LME at $355.00 per metric ton.

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The US HRC futures contract 3-month price saw little movement yesterday at $629.00 per short ton. The spot price of the US HRC futures contract held steady around $672.00 per short ton.