executive Mr Alan Kestenbaum while speaking with analysts during the company’s quarterly earnings call said “In the coming months, we expect to complete work on our new pig iron caster that will enable us to further enhance our tactical flexibility and maximize our profitability by serving [electric arc furnace] producers and foundries who are interested in these valuable iron units as they face continued supply squeezes and price increases in the scrap market. This investment will further amplify our tactical flexibility by providing the capability to produce more than one-million tons of pig iron annually. It gives us an incredible amount of flexibility in how we operate our assets, how we arbitrage the market between utilizing scrap and hot metal in our production mix, as well as how we manage our maintenance program. Having this outlet for hot metal offers a number of benefits operationally.”
Construction of the casting machine will coincide with a planned CAD 100 million reline of the Lake Erie blast furnace, which is to be completed in the second quarter of 2020. It is expected to give the company up to 300,000 tons of additional capacity. The company said it will begin shipments in the ensuing quarter.