Market Segment
August 26, 2021
Written by Michael Cowden
Nucor has idled its Castrip® mill in Crawfordsville, Ind., and consolidated its remaining Castrip® business at its mill in Blytheville, Ark., a company spokeswoman confirmed.
The Indiana mill was idled in 2020, and the Arkansas Castrip® operations “will continue to operate on a limited basis as we conclude our commitments to our customers,” she said.
The plate market squeeze has undoubtedly been driven by improved demand backed by heightened import barriers, including 50% Section 232 tariffs.
Metalformers’ optimism softened in the Precision Metalforming Association (PMA) September Business Conditions Report.
SMU’s latest Flat-Rolled Steel Buyers Survey shows that in a tight US market marked by long lead times, low inventories, and rising prices, foreign products continue to gain the interest of domestic buyers.
Domestic raw steel output fell to a six-month low last week after hitting a multi-year high one week earlier, according to the latest American Iron and Steel Institute (AISI) figures.
The proposed Hyundai-POSCO steel mill in Louisiana has been approved for up to $1.3 billion in bond financing, according to state records and local media reports.