American steelmaker Nucor Corporation has announced that it has approved the construction of a steel bar micro mill and is currently considering five states in the Midwest and Southeast for the project. The states under consideration include Nebraska, Kansas, Missouri, South Carolina and Florida. Nucor will also expand its existing merchant bar operations in either Illinois or Ohio.
According to Nucor, its bar mills are a cornerstone of the company. "They have generated significant value in the past, and they are expected to generate significant value in the future. Both the micro mill project and the expansion of its merchant bar operations are part of Nucor's planned strategy for long-term profitable growth. By leveraging Nucor's existing operating abilities, these projects will maintain our position as a low-cost producer and will allow us to better serve our customers," the company said.