Replies to post #17974 on The Rising Influence of Rising Affluence

[DewDiligence]

CLF’s Empire mine (in Michigan) will be reopened fairly soon, according to today’s CC.

Empire will supply 3.2-3.5MT of blast-furnace pellets to offset CLF's reduction in blast-furnace-pellet capacity resulting from CLF's entry into the HBI market. The cap-ex associated with this reopening will be approximately $600M spread over three years.

[DewDiligence]

(CLF)—NUE and STLD are among the EAF steelmakers who are expanding production capacity in the US, adding to the demand for CLF’s HBI:

https://www.wsj.com/articles/steelmakers-find-strength-to-expand-under-tariffs-11549544400

The build-out by Nucor Corp., Steel Dynamics Inc. and a half-dozen other companies would add 16 million tons of steelmaking capacity in the U.S., an 18% increase over the 90 million tons produced here in 2017, before tariffs took effect.