Steelmakers Look to Build U.S. Plants for Cheaper Shale Gas

Bloomberg reported that several steelmakers are considering building plants in the U.S. to take advantage of less expensive shale gas to use in the steel making process.

As quoted in the market report:

The newest group of steel projects are so-called direct- reduced iron plants, which account for the first stage of steelmaking. DRI technology produces iron for about $324 a ton, Nucor said in a November presentation. That’s $82 a ton, or 20 percent, cheaper than using a conventional blast furnace, the Charlotte, North Carolina-based steelmaker said.

To view the whole Bloomberg report, click here.