This morning in metals news: Nucor Corporation this week said it is evaluating locations for a new 3-million-ton capacity sheet mill; meanwhile, the Department of Commerce announced changes to its anti-dumping and countervailing duty regulations; and, lastly, British Steel warned about surging power prices.
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Nucor Corporation to build new sheet mill
Nucor Corporation this week said it is evaluating locations for a new sheet mill that will have a capacity of 3 million tons.
The steelmaker said it is looking at possible locations in Ohio, Pennsylvania and West Virginia.
“The new mill will be geographically situated to serve customers in the Midwest and Northeast markets and will have a significantly lower carbon footprint than nearby competitors,” Nucor said.
The steelmaker said the new mill will cost approximately $2.7 billion. The mill will produce hot-rolled sheet products with downstream processing. Furthermore, the facility will also have a tandem cold mill, annealing capabilities and two galvanizing lines.
DOC adjusts AD, CVD regulations
Meanwhile, the Department of Commerce announced adjustments to its anti-dumping and countervailing duty regulations.
The changes, it said, will “improve enforcement activities designed to defend U.S. companies from unfair and illegal trade practices.”
The changes include:
- Standalone rules governing circumvention inquiries and determinations
- Rules for Commerce to assist U.S. Customs and Border Protection in combating duty evasion
- Rules to prevent abuse of new shipper reviews
- Rules updating the procedures and standards for scope inquiries and rulings
- Revised timeline for submitting comments pertaining to industry support
Some of the changes will go into effect by Oct. 30, 2021, the Department of Commerce said. Meanwhile, other changes will go into effect by Nov. 4, 2021.
British Steel warns of rising power prices
British Steel said rising power prices are making it difficult to produce profitably during certain times of the day, the Financial Times reported this week.
Chinese conglomerate Jingye Group acquired British Steel in March 2020. Jingye pledged to invest £1.2 billion in the embattled British steelmaker over the next decade.
British Steel entered insolvency proceedings in March 2019 after rescue talks with the government fell apart.
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