Steel Mills
Big River Proceeds with Plans for Texas Mill
Written by Sandy Williams
October 17, 2019
Even after selling nearly half the company to U.S. Steel, Big River Steel intends to move ahead with its plans for a new EAF mill in Brownville, Texas, according to comments from CEO Dave Stickler to S&P Global Platts.
Stickler said that a development company has been formed called Brownsville Investment Group LLC to handle the development work for the project.
The Texas plant will be modeled after the one in Osceola, Ark. It will take a few years for permits to be approved and construction completed. Big River is also doubling its annual capacity next year at the Osceola mill to 3.3 million tons. The recent acquisition of 49.9 percent of the company by U.S. Steel is not deterring Big River from making strategic investments, Stickler said.
When asked about fears of an oversupply of capacity in the U.S., and the new Steel Dynamics mill practically on Brownsville’s doorstep, Stickler said neither bothers him as Big River has a better location with ready access to the water and opportunity to serve Mexico.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
AISI: Raw steel production eases to 5-week low
Domestic raw steel mill production slipped to a five-week low last week, according to the latest figures released by the American Iron and Steel Institute (AISI). Weekly production is now at the third-lowest level recorded this year.
Nucor maintains HR price at $750/ton
Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil was unchanged week on week (w/w) at $750 per short ton (st) on Monday, Nov. 18.
Mexican court orders sale of officially bankrupt AHMSA
After failing to reach agreements with its creditors, Altos Hornos de México (AHMSA) has been formally declared bankrupt by a Mexican bankruptcy court.
AISI: Raw steel production edges back up
Domestic raw steel production recovered last week, after slipping the week prior, according to the latest American Iron and Steel Institute (AISI) data. Weekly production remains at some of the lowest levels recorded this year.
Cliffs closes its 2024 HR spot book
Cleveland-Cliffs announced the closing of its December order book for hot-rolled coil spot purchases, though it said contract bookings remain available.