On December 6, Nucor Steel officially announced that the company’s board of directors has approved an investment of US$350 million in the construction of a new rebar production line in Charlotte, North Carolina’s largest city in the southeastern United States, which will also become New York. Ke’s third rebar production line has an annual production capacity of approximately 430,000 tons.
Nucor said that in recent years, U.S. rebar imports have declined. Most rebars are produced in the United States. It believes that the US East Coast market will need more rebars in the next few years. Rebar has always been Nucor’s core business, and building a new production line will help Nucor maintain its leading position in the U.S. rebar market