Nucor to Deepen Cooperation with Mitsui Worldwide

Nucor improves competitiveness through the direct reduced iron facility, which will be constructed in Louisiana, reducing material cost, risk for material securing and carbon footprint. The firm eyes expanding the operation into integrated steel works with blast furnace, steelmaking facilities and downstream operation. The firm also tries to expand the cooperation in steel processing with Japanese major trade firm, Mitsui & Co. into further items including raw material securing and steel plant at home and offshore.

Mr. Daniel R. DiMicco, chairman & CEO of Nucor commented the strategy in an interview with Japan Metal Bulletin at site of World Steel Association’s annual meeting in Tokyo. Mr. DiMicco said Nucor concentrates on reducing the cost of existing business and improving quality and customer service under present unclear global economy.

The firm plans to build the first DRI facility, which has 2.5 million tons annual output capacity and increase the capacity to 5 million tons by adding the second facility. The firm eyes step-by-step expansion including blast furnace, steelmaking facilities and downstream operation depending on carbon tax and market conditions.

Nucor and Mitsui & Co. launched steel service center joint venture, NuMit. Nucor aims to deepen the cooperation with Mitsui on businesses at home and overseas.