Nucor Explores Sites To Build New Rebar Micro Mill

(RTTNews) - Nucor Corp. (NUE), a steel manufacturer, announced on Friday that it is exploring potential sites in the Pacific Northwest to build a new rebar micro mill.

The rebar micro mill would have an annual capacity of 650,000 tons and produce a full range of rebar sizes with spooling capabilities. A rebar is mainly used in the construction of roads, buildings, sidewalks and other structures.

The new rebar micro mill is the company's fourth joining its existing mills located in Missouri and Florida. The steel firm already has 15 bar mills strategically located across the United States. that manufacture a broad range of steel products.

The bar steel production capacity of the company is estimated to be around 9,560,000 tons per year.

In pre-market activity, Nucor shares are trading at $144.70 up 0.66% on the New York Stock Exchange.