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Trump Trade war - US steel mills have announced USD 10 billion

Steel News - Published on Mon, 11 Mar 2019

Image Source: wikipedia
Auto News amid resilient auto sales, anxiety over future trade friction and a stream of improved profits, major US steel mills have unveiled USD 9.7 billion in planned plant investments to boost their US capacity. Among the plans, Steel Dynamics Inc said in November it will invest as much as USD 1.8 billion to build a mill at an undecided US site. ArcelorMittal has informed steelworkers that it plans to spend USD 3.1 billion on US factories and US Steel is eyeing plant investments of USD 2.5 billion.

The last steel mill brought online in the US was in 2015.

The bullish spending plans, announced over the past year, have been welcomed by traditional steel states and potential new sites that hope to attract auto industry investment.

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Posted By : Sanju Moirangthem on Mon, 11 Mar 2019
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