Nucor DRI facility on track, start-up costs high

Apr 25, 2014 | 11:56 AM | Thorsten Schier

Tags  Nucor, direct-reduced iron, Louisiana plant, DRI, John Ferriola, James Frias, start-up costs, Encana Thorsten Schier

NEW YORK — Nucor Corp.’s ramp-up of its direct-reduced iron (DRI) facility in St. James Parish, La., has gone well operationally, but start-up costs of $20.7 million in the first quarter were higher than anticipated, company executives said.

"From an equipment perspective, from an operational perspective, the start-up was great," chairman, president and chief executive officer John J. Ferriola said during an April 24 conference call.

Nucor is working to reduce yield loss at the facility, and start-up costs are expected to fall to between $10 million and $15 million in the second quarter, chief financial officer James D. Frias said.....





Latest Pricing Trends

Poll

Are you stocking more inventory today than 18 months ago?

Yes
No


View previous results