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US firm may expand iron plant.

Nucor Corp., the second-largest US-based steelmaker, plans an expansion at its iron plant in Trinidad & Tobago as the cost of raw materials increases, reports Bloomberg (Oct. 8, 2007). Nucor may expand capacity of its Nu-Iron Unlimited plant by 20% to supply cheaper raw materials to its scrap

mills in the US, said CEO Dan DiMicco during an interview at the International Iron and Steel Institute's yearly conference in Berlin. The mill in Point Lisas processes Brazilian iron ore to make 2 million tons a year of direct reduced iron, a material that is combined with scrap to make steel. Nucor said Sept. 12 its third-quarter profit may decline 12% because of rising raw material costs and falling demand in the US. DiMicco said surging Chinese steel production affects the company "on selling our products side, and it affects on our iron side."

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