US market has room for Big River Steel: Correnti

Apr 28, 2014 | 04:26 PM | Michael Cowden

Tags  carbon steel, electric steel, new mill, Big River Steel, John Correnti, air permit, Nucor Corp., Nucor-Yamato Steel Co. Osceola

PITTSBURGH — There is ample room for Big River Steel LCC in a U.S. market awash in imports and high-priced domestic steel, the company’s chief executive officer John D. Correnti told AMM.

The United States currently imports roughly 20 million to 30 million tons of steel per year, which doesn’t make sense in a country with low electricity costs, a strong domestic market and an ample supply of scrap, Correnti said.

"This is the place to melt and make steel," Correnti said. "So why is so much foreign steel coming in? ... It’s either the steel mills in this country cannot make the quality or the price is too high. That’s it. All this crying about ‘Dumping! Dumping! Unfairly traded steel!’ It’s poppycock."....

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