Market Segment
April 26, 2022
Written by Michael Cowden
Nucor has ordered two galvanizing lines from equipment supplier Fives SAS for its $2.7 billion electric arc furnace (EAF) sheet mill in West Virginia.
One is a vertical galvanizing line, the other is a horizontal line – each will have annual capacity of 500,000 tons, France-based Fives said in a press release on Tuesday, April 26.
The current plate market squeeze has been driven by improved demand and heightened import barriers, including 50% Section 232 tariffs. But the timing of fall outages—even if they were planned—is exacerbating the supply crunch.
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.