Nucor announced today 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.
"We have recently executed two successful rebar micro mill start-ups and believe the East Coast market will be in need of additional rebar supply in the coming years, particularly with the recent passage of the infrastructure spending bill," said Leon Topalian, President & Chief Executive Officer of Nucor. "Rebar has been a core business for Nucor since we got into steelmaking and this project will enable us to maintain our leadership position in the rebar market."