Nucor Corp is proposing a $300-million expansion of its flat-rolled and steel beam mill near Charleston, South Carolina, and additional expansions could also be in the works, a company spokesperson told Fastmarkets.
“Nucor has been considering a $300-million expansion project at our Berkeley County mill, along with two other Nucor locations,” the spokesperson said via email on Thursday February 13. “Several factors are still being examined before a final decision is made.”
Documents filed with the Berkeley County government in early December, dubbing the expansion “Project Kettle,” confirmed the investment if the plans proceed as expected, noting that it “will create, or cause to be created, at least 50 new full-time jobs, in the aggregate, in the county.”
A public hearing on a "fee-in-lieu of tax agreement" with Charlotte, North Carolina-based Nucor is scheduled for February 24, according to county records. A hearing is on the county docket for that date but no agenda has yet been posted.
Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $29.25 per hundredweight ($585 per short ton) on February 13, up by 1.6% from $28.79 per cwt the previous day and 26.3% higher than the more than three-and-a-half-year low of $23.15 per cwt reached in late October.
Fastmarkets last assessed steel beams, 8- x 8-inch, fob mill US at $36.50 per cwt on January 30, up by 11.5% from $32.75 per cwt on October 31.
Lisa Gordon in Pittsburgh contributed to this report.