Steelmakers are among those profiting from the crashing natural gas prices triggered by the U.S....
Monday, December 31, 2012, 2:49 PM ETSteelmakers are among those profiting from the crashing natural gas prices triggered by the U.S. shale gas boom. By relying on gas instead of coal to purify the iron ore used to create steel, manufacturers are able to lower production costs for the first stage of steelmaking by about 20%. Nucor (NUE) plans to start work on a gas-powered $750M Louisiana plant in mid-2013, and could announce plans for a second plant in the coming year.
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