RTTNews | Dec 6, 2021 09:18AM EST

09:17 Monday, December 6, 2021 (RTTNews.com) - Nucor Corp. (NUE) announced Monday that the Company's board of directors has approved the construction of a rebar micro mill, with spooling capabilities, to be located in the South Atlantic region.

This will be Nucor's third rebar micro mill, joining its existing micro mills in Missouri and Florida, both of which began operations in 2020. The budgeted capex for the new micro mill is $350 million. It will have an annual capacity of 430,000 tons.

Nucor said rebar has been a core business for it since getting into steelmaking and this project will enable it to maintain the leadership position in the rebar market.

Rebar is used primarily in the construction of roads, buildings, sidewalks and other structures. Due to the variety of its end uses, rebar has had resilient demand characteristics over the last 20 years.

Nucor has 15 bar mills strategically located across the United States that manufacture a broad range of steel products, including concrete reinforcing bars, hot-rolled bars, rounds, light shapes, structural angles, channels, wire rod and highway products in carbon and alloy steels.

Read the original article on RTTNews ( https://www.rttnews.com/3247101/nucor-to-build-rebar-micro-mill-in-the-south-atlantic-region-quick-facts.aspx)

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