SDI iron nugget plant on target for mid-’09 start

Dec 10, 2008 | 11:02 AM | Maria Guzzo

Construction of Steel Dynamics Inc.'s (SDI's) iron nugget plant in Minnesota is on schedule, with a mid-2009 start-up slated.

"It's on track to start up in July or August," Keith Busse, chairman and chief executive officer of the Fort Wayne, Ind.-based flat- and long-products steelmaker, said during Goldman Sachs Group Inc.'s Fourth Annual Global Steel CEO Forum in New York. "I know a lot of you might wonder about the sanity of a project like this with commodity prices backed up like they are. But we think it's going to be a very profitable project."

SDI and Kobe Steel Ltd., Kobe, Japan, are partnering on the $235-million venture, which will use Kobe's patented ITmk3 process to create a raw material for use in electric-arc furnaces. The technology concentrates low-grade ore into iron nuggets for steelmaking. The plant will supply nuggets to the five mini-mills operated by SDI, which said using the scrap substitute will help it better control input costs.....

Latest Pricing Trends


Are you stocking more inventory today than 18 months ago?


View previous results