NEW YORK ThyssenKrupp Stainless USA LLC has begun buying stainless scrap and ferroalloys in anticipation of the start-up of its melt shop at the end of the year, AMM has learned.
"We are preparing to ramp up the facility," a source close to the company told AMM.
The Calvert, Ala.-company has purchased about two bargeloads worth of stainless scrap, according to market sources.
"Theyve bought a couple of barges," one source said, with another confirming the quantity but adding that it was too small to buoy an otherwise weak stainless scrap market.
The melt shop will have the capacity to produce between 900,000 and 1 million tonnes of stainless slab per year.
As the facility ramps up to full capacity, the domestic stainless scrap market is expected to tighten (amm.com, Nov. 5).
The facility will become part of Espoo, Finland-based stainless producer Outokumpu Oyj following the closure of its proposed merger with ThyssenKrupp Stainless parent Inoxum Group, itself a subsidiary of Essen, Germany-based ThyssenKrupp AG. The merger was recently approved by the European Commission (amm.com, Nov. 7).
A spokeswoman for ThyssenKrupp Stainless did not return a request for comment.
Editor's note: This story originally listed ThyssenKrupp Stainless' volume in tons rather than tonnes.