Nucor, Big River Steel Arkansas Facility Battle Heads to Federal Court

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Cold-rolled steel

A lawsuit seeking to stop construction of the $1.3 billion Big River Steel plant in Mississippi County, Ark., is barred by the federal Clean Air Act, an attorney for BRS argued during a hearing Friday in US District Court in Little Rock.

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An attorney for the plaintiff, Nucor Steel, argued that the law allows it to challenge the air permit Big River Steel obtained for the plant.

US District Judge Leon Holmes heard arguments but did not immediately issue a ruling during Friday’s hearing, which was held to consider a motion by Big River Steel to dismiss Nucor’s suit.

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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 ($135.31) and a low price of CNY 840.00 ($135.31) per dry metric ton. The price of Chinese HRC remained steady at CNY 2,810 ($452.64) per metric ton. The price of Chinese coking coal saw essentially no change for the fifth day in a row, remaining around CNY 1,080 ($173.97) per metric ton.

The cash price of steel billet remained essentially flat at $500.00 per metric ton on the LME. The 3-month price of steel billet saw little movement on the LME at $480.00 per metric ton.

After a couple of days of decreasing prices, the 3-month price of the US HRC futures contract held steady at $580.00. The spot price of the US HRC futures contract remained essentially flat at $590.00 per short ton.

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