AABP EP Awards 728x90

Shale gas could boost development of steel plants

/wp-content/uploads/2022/11/BR_web_311x311.jpeg

The U.S. shale-gas revolution, which has revitalized chemical companies and prompted talk of domestic energy self-sufficiency, is attracting a wave of investment that may revive profits in the steel industry, Bloomberg reported. Austrian steelmaker Voestalpine AG said Dec. 19 it may construct a $661 million factory in the United States to benefit from cheap gas. Nucor Corp., the most valuable U.S. steelmaker, plans to start up a $750 million Louisiana project in mid-2013. They’re among at least five U.S. plants under consideration or being built that would use gas instead of coal to purify iron ore, the main ingredient in steel. Read more.

momentum brd 090123 300x250