This morning in metals news, Nucor announced a major project at its Bourbonnais, Illinois plant, Aleris has a new automotive sheet facility in Kentucky and Chinese automotive sales drop in October.
Nucor Announces Plant Expansion in Illinois
Nucor is building a merchant bar mill at its plant in Bourbonnais, Illinois plant, the company announced Wednesday.
The full-range merchant bar quality (MBQ) mill will have an annual capacity of 500,000 tons and is expected to cost $180 million, according to the Nucor release. The project will take approximately two years to complete.
“This new MBQ mill is right in line with our long-term strategy for profitable growth. It takes advantage of our position as a low-cost producer to displace tons currently being supplied by competitors outside the region. It also builds on our market leadership position by further enhancing our product offerings of merchant bar, light shapes and structural angle and channel in markets in the central U.S.,” said John Ferriola, chairman, CEO and president of Nucor.
“Combined with our other full-range bar mills, we are now strategically located to supply all markets with high-quality bar products and exceptional service.”
Aleris Announces New Automotive Sheet Facility
Aleris opened a new automotive body sheet facility in Lewisport, Kentucky, the company announced.
The project represents a $400 million investment, according to the Aleris release.
Chinese October Automotive Sales Fall
According to data from the Chinese Association of Automobile Manufacturers (CAAM), yearly sales are up, while sales for October dipped from the previous month.
According to CAAM, In October, the production and sales of automobiles in China reached 2,604,000 and 2,704,000 units, respectively, down 2.5% and 0.2% from September. Meanwhile, production and sales were up 0.7% and 2% year-on-year.
For the first 10 months of 2017, the production and sales of automobiles were 22,957,000 and 22,927,000 units, respectively, up 4.3% and 4.1% year-on-year.