Big River Steel, which has received a state permit to build a new steel mill in eastern Arkansas, said Friday that a federal judge should block a challenge mounted by an existing nearby Nucor Steel mill.
Big River Steel said in court documents that the challenge by Nucor was a “collateral attack” on a company that already has permission from state regulators to build a $1.3 billion plant near Osceola. Nucor already fought the permit and lost at the state level.
Nucor has claimed in federal court that Big River Steel has violated the Clean Air Act and that it should be able to press claims under the law’s “citizen suit” provision. Big River Steel claims that is giving Nucor another bite at the apple.
Chinese steel closed mixed yesterday. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($136.73) and a low price of CNY 840.00 ($136.73) per dry metric ton. Chinese coking coal saw its price drop 19.4% to a 30-day low of CNY 1,120 ($182.31) per metric ton on Monday. The price of Chinese slab reached a 30-day low after decreasing 11.8% to CNY 3,070 ($499.72) per metric ton.
The cash price of steel billet held steady on the LME at $500.00 per metric ton. The 3-month price of steel billet saw essentially no change on the LME for the fifth day in a row, remaining around $480.00 per metric ton.
The US HRC futures contract 3-month price saw little movement yesterday at $628.00 per short ton. The spot price of the US HRC futures contract saw little change in its price yesterday at $635.00 per short ton.