This morning in metals news: ArcelorMittal announced plans to build an electric arc furnace at its joint venture steelmaking facility in Calvert, Alabama; the state of Alabama is kicking in some incentives for the project; and China churned out a record amount of crude steel in July.
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ArcelorMittal, Nippon to build EAF at Calvert plant
ArcelorMittal announced it plans to build a new electric arc furnace at the AM/NS Calvert plant in Alabama.
AM/NS is a 50:50 joint venture between ArcelorMittal and Nippon Steel.
“The addition of an EAF at AM/NS Calvert presents a transformational opportunity for what is already widely considered to be the world’s most advanced steel finishing facility,” said Brad Davey, CEO of ArcelorMittal North America. “This is a logical next step in optimizing AM/NS Calvert’s supply chain.”
German firm Thyssenkrupp originally built the Calvert plant. ArcelorMittal and Nippon Steel acquired the facility in 2014.
The plant came with an original price tag of approximately $4 billion. ArcelorMittal said the joint venture has invested approximately $200 million in the plant to date.
The Calvert plant boasts an annual capacity of 5.3 million tons of flat-rolled carbon steel products.
Alabama offers steel incentives
Sticking with the AM/NS Calvert plant, al.com reported the state of Alabama could offer at least $29 million in incentives for the steel expansion project.
Angela Till, deputy secretary of the Alabama Department of Commerce, told al.com the state is “still negotiating the terms of the state project agreement.”
Chinese steel production soars in July
China’s crude steel production hit 93.36 million tonnes in July, Reuters reported, up 1.9% year over year.
Production of hot-rolled and cold-rolled coil at major mills jumped 28% in July from the previous month, Reuters reported.
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