Market Segment

Storage Dome Collapse to Delay Start-up of Nucor DRI Plant
Written by Sandy Williams
September 26, 2013
A storage dome collapse will delay the start-up of Nucor’s new DRI plant in Convent, La., until the end of the year said Nucor officials in a press release on Sept. 26.
On Wednesday afternoon, one of three storage domes for storage of iron ore pellets, suffered structural failure and collapsed, creating what sounded like an explosion and prompting calls to 911. No explosion, fire or injuries occurred. The dome, which is constructed of concrete with a fabric skin, was reported to look a deflated balloon. The conveyor system connected to the tops of the three domes was bent. The collapse is under investigation said Nucor officials.

The plant is in the “commissioning stage” and was expected to start production in the next few weeks. The incident will delay the start of the $750 million DRI project that has been under construction since March 2011. The plant will use natural gas to convert iron ore pellets into direct reduced iron. The plant is expected to produce 2.5 million tons of DRI per year.
 
			    			
			    		Sandy Williams
Read more from Sandy WilliamsLatest in Market Segment
 
		                                Gerdau’s N. American earnings rise in Q3 due to fall in imports
Gerdau’s North American profits rose in the third quarter, boosted by a decline in imports due to Section 232 steel tariffs.
 
		                                Ternium swings to Q3 loss, eyes 2026 recovery
Ternium closed the third quarter with steady shipments and improving margins. But trade policy uncertainty and subdued demand in Mexico weighed on the Latin American steelmaker’s results.
 
		                                SMU Mill Order Index fell in September
SMU’s Mill Order Index declined in September after repeated gains from June through August. The shift came as service center shipping rates and inventories fell.
 
		                                Algoma’s losses widen in Q3 as tariff troubles continue
Algoma Steel’s net loss more than quadrupled in the third quarter on trade woes and its EAF transition. Separately, the company announced a change in leadership, as CEO Michael Garcia will retire at the end of the year.
 
		                                Cliffs, POSCO announce MoU for ‘transformative’ partnership
Cleveland-Cliffs on Thursday said it had signed a memorandum of understanding (MoU) with POSCO to forge a strategic partnership, one Cliffs bills as "transformative."
