Nucor buying UK industrial steel scrap

Dec 11, 2009 | 11:55 AM | Michael Marley

Nucor Corp. has bought two cargoes of industrial steel scrap from British exporters—one for delivery to its Berkeley County sheet mill in South Carolina and the other to the port of New Orleans.

It isn't the first time that Nucor has imported industrial scrap from the United Kingdom or northern Europe. The big steelmaker previously bought scrap from overseas in an effort to cool down overheated U.S. scrap markets in which prices were climbing by leaps and bounds.

This time around, the Charlotte, N.C.-based steelmaker might have had little or no choice but to shop abroad for the industrial scrap it needs to make its sheet products, one trader in the South said, noting that supplies of that scrap in the southern U.S. are very low at this time.....

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