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Released December 11, 2019 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--With more than $2.6 billion in project activity, the Great Lakes Region, which includes Illinois, Indiana, Kentucky, Michigan, Ohio and Wisconsin, edges out the other U.S. regions when it comes to planned steel works and blast furnace construction kickoffs for first-quarter 2020.
In all, Industrial Info is tracking $5.74 billion worth of steel works and blast furnace projects in the U.S. that are planned to commence construction in the upcoming quarter.
Click on the image at right for a graph showing steel works and blast furnace project activity in the U.S. by market region.
The largest of the Great Lakes Region projects by total investment value is Nucor Corporation's (NYSE:NUE) (Charlotte, North Carolina) planned 1.2 million-ton-per-year steel plate mill in Brandenberg, Kentucky. Following its planned completion in first-quarter 2022, the mill will produce 1.2 million tons per year of cut-to-length, coiled, heat-treated and discrete plate ranging from 60 to 160 inches wide, and in gauges from 3/16 of an inch to 14 inches.
Nucor says the mill's location on the Ohio River will give the company logistical advantages in sourcing raw materials and serving customers throughout the Midwest. Kentucky was one of four states under consideration for the mill. For more information, see Industrial Info's project report and March 29, 2019, article - Nucor's Planned $1.3 Billion Steel Plate Mill Finds Home in Kentucky.
The project's planned construction start was pushed back from fourth-quarter 2019. In October, Nucor lowered its 2019 capital expenditure forecast from $1.8 billion to $1.5 billion due to a change in timing of expected projects for the remainder of the year. The company reported its third-quarter profits dropped to less than half of what they were a year earlier as a result of lower prices and sales volumes. For more information, see October 23, 2019, article - Nucor Lowers Capex Forecast for 2019.
Another Nucor project in Kentucky with a planned construction start in the first quarter is its Gallatin thin-slab mill expansion/addition in Ghent. The project includes construction of a new building at the 1.6 million-ton-per-year steel mill and installation of a new tunnel furnace, along with other equipment to allow the mill to produce coils up to 73 inches wide. For more information, see Industrial Info's project report.
In Ohio, Acero Junction Incorporated, a subsidiary of JSW Group (Mumbai, India), plans to install a second 400-ton electric arc furnace (EAF) at its Mingo Junction South steel mill to double its capacity to 3 million tons per year. Completion is planned for fourth-quarter 2020. For more information, see Industrial Info's project report. The Great Lakes Region edges out the Southwest Region, which hosts $2.4 billion worth of steel works and blast furnace projects that are planned to kick off in the upcoming three months. The Southwest Region includes Texas, Oklahoma, Arkansas and Louisiana.
In Sinton, Texas, Steel Dynamics (NASDAQ:STLD) (Fort Wayne, Indiana) plans to start construction on a grassroot, 3 million-ton-per-year flat-rolled steel mill. For more information, see Industrial Info's project report and July 24, 2019, article - New $1.9 Billion Steel Mill to Serve Both U.S., Mexican Markets. Like Nucor, Steel Dynamics reported its net income for third-quarter 2019 was less than half of what it had in third-quarter 2018. For more information, see Industrial Info's project report.
The American Iron and Steel Institute (AISI) reported adjusted year-to-date raw steel production through December 7 was 90,740,000 net tons, at a capability utilization rate of 80.1%, which was up 1.9% from the 89,055,000 net tons during the same period last year, when the capability utilization rate was 78.2%.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
In all, Industrial Info is tracking $5.74 billion worth of steel works and blast furnace projects in the U.S. that are planned to commence construction in the upcoming quarter.
The largest of the Great Lakes Region projects by total investment value is Nucor Corporation's (NYSE:NUE) (Charlotte, North Carolina) planned 1.2 million-ton-per-year steel plate mill in Brandenberg, Kentucky. Following its planned completion in first-quarter 2022, the mill will produce 1.2 million tons per year of cut-to-length, coiled, heat-treated and discrete plate ranging from 60 to 160 inches wide, and in gauges from 3/16 of an inch to 14 inches.
Nucor says the mill's location on the Ohio River will give the company logistical advantages in sourcing raw materials and serving customers throughout the Midwest. Kentucky was one of four states under consideration for the mill. For more information, see Industrial Info's project report and March 29, 2019, article - Nucor's Planned $1.3 Billion Steel Plate Mill Finds Home in Kentucky.
The project's planned construction start was pushed back from fourth-quarter 2019. In October, Nucor lowered its 2019 capital expenditure forecast from $1.8 billion to $1.5 billion due to a change in timing of expected projects for the remainder of the year. The company reported its third-quarter profits dropped to less than half of what they were a year earlier as a result of lower prices and sales volumes. For more information, see October 23, 2019, article - Nucor Lowers Capex Forecast for 2019.
Another Nucor project in Kentucky with a planned construction start in the first quarter is its Gallatin thin-slab mill expansion/addition in Ghent. The project includes construction of a new building at the 1.6 million-ton-per-year steel mill and installation of a new tunnel furnace, along with other equipment to allow the mill to produce coils up to 73 inches wide. For more information, see Industrial Info's project report.
In Ohio, Acero Junction Incorporated, a subsidiary of JSW Group (Mumbai, India), plans to install a second 400-ton electric arc furnace (EAF) at its Mingo Junction South steel mill to double its capacity to 3 million tons per year. Completion is planned for fourth-quarter 2020. For more information, see Industrial Info's project report. The Great Lakes Region edges out the Southwest Region, which hosts $2.4 billion worth of steel works and blast furnace projects that are planned to kick off in the upcoming three months. The Southwest Region includes Texas, Oklahoma, Arkansas and Louisiana.
In Sinton, Texas, Steel Dynamics (NASDAQ:STLD) (Fort Wayne, Indiana) plans to start construction on a grassroot, 3 million-ton-per-year flat-rolled steel mill. For more information, see Industrial Info's project report and July 24, 2019, article - New $1.9 Billion Steel Mill to Serve Both U.S., Mexican Markets. Like Nucor, Steel Dynamics reported its net income for third-quarter 2019 was less than half of what it had in third-quarter 2018. For more information, see Industrial Info's project report.
The American Iron and Steel Institute (AISI) reported adjusted year-to-date raw steel production through December 7 was 90,740,000 net tons, at a capability utilization rate of 80.1%, which was up 1.9% from the 89,055,000 net tons during the same period last year, when the capability utilization rate was 78.2%.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
