Steel Products Prices North America
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/media/k2/items/src/4840e44f92e4023d2e8e1bb1f3adcaf1.jpg)
Minnesota Mine Hopes to Restart Taconite Project
Written by Sandy Williams
March 29, 2017
Mesabi Metallics, the former Essar Steel Minnesota, is seeking permission from the District of Delaware Bankruptcy Court to recommence construction activities on its taconite mine and processing plant in Nashwauk, MN. A court hearing is scheduled for April 5.
Earlier this month the court gave the company permission to renew labor agreements with construction workers and to enter into a “neutrality/card-check” agreement with United Steelworkers. The card check agreement gives the USW the authority to canvass workers about joining the union without interference by management.
Mesabi Metallics hopes to pull itself out of bankruptcy protection by paying off debt and restarting work on its half-finished taconite facility. The company plans to invest $800 million to finish the project.
The company continues to experience pushback from Governor Mark Dayton who has tentatively promised the mineral leases to Cliffs Natural Resources. Iron Range legislators, for the most part, are in favor of letting Mesabi Metallics retain the leases and move ahead with the project.
In a letter to the Minnesota Department of Natural Resources, seven Range legislators wrote that they were satisfied with the efforts being made by Mesabi Metallics to address concerns of state and local stakeholders and to pay debts due to local contractors and vendors. The legislators urged the DNR to award the leases to Mesabi Metallics.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/04/sandy-williams.jpeg)
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products Prices North America
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Nucor.png)
Nucor inches HR price up, aims for $695/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $695 per short ton (st), up $5/st from last week.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Nucor.png)
Nucor maintains $690/ton HR base price
Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil is unchanged from last week at $690/ton.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/CRU-Logo-2023-07-21-at-4.35.41-PM.png)
CRU: US prices find a bottom as other markets fall
The US sheet market appears to have reached a bottom following consistent weekly declines since April. However, other markets remain weak due to limited demand. Trading in Europe has been slow due to summer holidays. While European mills are also undergoing maintenance outages, these have not been enough to offset ongoing price falls, with weak […]
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Cliffs_logo2.2.png)
Cliffs seeks $700/ton for HR, up $30/ton from last week
Cleveland-Cliffs said on Wednesday that it would seek at least $700 per short ton (st) for hot-rolled (HR) coil. The Cleveland-based steelmaker said it made the move "due to ongoing market developments." The company said the increase was effective immediately for HR orders for September.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Nucor.png)
Nucor aims for $675/ton for HR
Nucor has raised its consumer spot price (CSP) for hot-rolled (HR) coil to $675 per short ton (st), up $25/st from last week.