Construction of a $1.1 billion steel mill in Osceola, Ark., can begin by early summer now that an administrative law judge has rejected a challenge to the plant’s air-quality permit, the county’s chief administrative officer told the Washington Times.
Nucor Steel, which has two mills east of Blytheville, had challenged Big River Steel’s air-quality permit, saying the plant didn’t fulfill state and federal anti-pollution requirements. An administrative law judge last week rejected the challenge. Work could begin by May.
Chinese steel prices were flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.05) and a low price of CNY 830.00 ($133.44) per dry metric ton. For the fifth day in a row, the price of Chinese HRC remained essentially flat at CNY 3,400 ($546.64) per metric ton. The price of Chinese coking coal was unchanged at CNY 1,390 ($223.48) per metric ton.
The steel billet cash price held steady on the LME at $390.00 per metric ton. For the fifth consecutive day, the steel billet 3-month price held flat on the LME at $400.00 per metric ton.
The US HRC futures contract 3-month price steadied at $655.00 per short ton following two-days of increases. The spot price of the US HRC futures contract remained essentially flat at $656.00 per short ton.