Nucor Corporation announced that its board of directors has approved the construction of a rebar micro mill, with spooling capabilities, to be located in the South Atlantic region. This will be Nucor's third rebar micro mill, joining its existing micro mills in Missouri and Florida, both of which began operations in 2020. The budgeted capex for the new micro mill is USD 350 million. It will have an annual capacity of 430,000 tons. Nucor President & Chief Executive Officer Mr Leon Topalian said "We have recently executed two successful rebar micro mill start-ups and believe the East Coast market will be in need of additional rebar supply in the coming years, particularly with the recent passage of the infrastructure spending bill. Rebar has been a core business for Nucor since we got into steelmaking and this project will enable us to maintain our leadership position in the rebar market."The rebar market is expected to show continued strength. Most of the rebar used in the US is produced domestically, and rebar imports have decreased in recent years due to strong trade enforcement. Nucor has 15 bar mills strategically located across the United States that manufacture a broad range of steel products, including concrete reinforcing bars, hot-rolled bars, rounds, light shapes, structural angles, channels, wire rod and highway products in carbon and alloy steels.
Nucor Corporation announced that its board of directors has approved the construction of a rebar micro mill, with spooling capabilities, to be located in the South Atlantic region. This will be Nucor's third rebar micro mill, joining its existing micro mills in Missouri and Florida, both of which began operations in 2020. The budgeted capex for the new micro mill is USD 350 million. It will have an annual capacity of 430,000 tons. Nucor President & Chief Executive Officer Mr Leon Topalian said "We have recently executed two successful rebar micro mill start-ups and believe the East Coast market will be in need of additional rebar supply in the coming years, particularly with the recent passage of the infrastructure spending bill. Rebar has been a core business for Nucor since we got into steelmaking and this project will enable us to maintain our leadership position in the rebar market."The rebar market is expected to show continued strength. Most of the rebar used in the US is produced domestically, and rebar imports have decreased in recent years due to strong trade enforcement. Nucor has 15 bar mills strategically located across the United States that manufacture a broad range of steel products, including concrete reinforcing bars, hot-rolled bars, rounds, light shapes, structural angles, channels, wire rod and highway products in carbon and alloy steels.
