Steel Products Prices North America
NAS Announces $244M Expansion at Kentucky Plant
January 30, 2023
North American Stainless (NAS) has announced a $244-million expansion at its Ghent, Ky., facility.
The stainless steel producer said the expansion will boost its total capacity by 20% to 200,000 tons annually.
The project, which will add 70 new jobs to the plant, was prompted by increased customer demand for stainless products.
“We are proud to lead America’s stainless steel economy, support our national security with our production, and create great jobs for our region,” NAS CEO Cristobal Fuentes said in a statement.
“Our latest expansion will bring more clean, sustainable, and American-made stainless to consumers, and directly compete with the subsidized imports of stainless,” he added.
NAS said the continued importation of subsidized stainless steel—and the accompanying national security threats—made the expansion a priority.
The Ghent-based company said it will build a new cold-rolling mill, add roll grinders, and perform an extensive upgrade of its annealing and pickling lines to support the new rolling mill. It will also add a new temper mill and expand the melt-shop building to include a 400-metric-ton crane.
Kentucky Governor Andy Beshear lauded the project.
“I’m excited to announce more growth in Kentucky’s metals industry with this latest investment from North American Stainless,” he said.
NAS is owned by Acerinox SA, a stainless steel manufacturing conglomerate group based in Madrid, Spain.
By Ethan Bernard, ethan@steelmarketupdate.com
Latest in Steel Products Prices North America

SMU Price Ranges: Tags mixed as uncertainty weighs on market
SMU’s hot-rolled (HR) coil price held steady this week while prices for other sheet and plate products declined.

Nucor spot HR list price unchanged at $875/ton
Nucor kept its weekly list price for hot-rolled (HR) coil unchanged this week, following a price bump of $10 per short ton (st) last week.

SMU price ranges: Flat-rolled balloon continues to leak
Sheet and plate prices were flat or lower again this week on continued concerns about demand and higher production rates among US mills.

HRC vs. busheling spread narrows in August
The price spread between prime scrap and hot-rolled coil (HRC) narrowed in August, according to SMU’s most recent pricing data.

SMU Price Ranges: Market drifts lower still
All five of SMU's steel sheet and plate price indices declined this week, falling to lows last seen in February.