Nucor DRI won’t hurt scrap prices: Rinn

Jul 18, 2013 | 04:58 PM | Lisa Gordon

Tags  scrap, OmniSource Corp., pig iron, ferrous scrap, nonferrous scrap, Russ Rinn, Steel Dynamics, Mark Millett Nucor

PITTSBURGH — Nucor Corp.’s direct-reduced iron (DRI) plant in Louisiana scheduled to come online later this year will initially impact imports of alternative iron units and won’t put pressure on prices of prime scrap grades, according to OmniSource Corp. executives.

"It has got to go through startups, but I am thinking that it will impact pig iron and other substitute markets. Until it comes on line and produces in the marketplace, it is too hard to tell," Russ Rinn, president and chief operating officer of OmniSource, Steel Dynamics Inc.’s recycling subsidiary, said during an earnings conference call.....

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