Nucor’s direct reduced iron plant in St. James Parish, Mississippi, might soon be expanding. The plant creates iron ore pellets that are transported to other Nucor facilities for the manufacture of steel products. If the expansion is approved, it will bring Nucor’s total investment in the Mississippi plan to $3.1 billion. Prices were flat today on the LME for most steel products.
The cash price of steel billet showed little movement on Monday, hovering around $390.00 per metric ton. On the LME, the 3-month price of steel billet saw little change in its price on Monday at $400.00 per metric ton.
Chinese steel prices were flat for the day. The price of iron ore 58% fines from India hit a high price fluctuated in a short range for the day. The price of Chinese HRC showed little movement on Monday. The price of Chinese coking coal continues hovering around one area for the fifth day in a row.
The US HRC futures contract 3-month price fell 0.2 percent yesterday. The US HRC futures contract spot price remained essentially flat.