Nucor Corp. announced that its board of directors approved the construction of a rebar micro mill, with an annual capacity of 430,000 tons, to be located in the South Atlantic region. This will be Nucor's third rebar micro mill, joining its existing micro mills in Missouri and Florida, both of which began operations in 2020. The budgeted capex for the new micro mill is $350 million. Rebar is used primarily in the construction of roads, buildings, sidewalks and other structures. Most of the rebar used in the U.S. is produced domestically, and rebar imports have decreased in recent years due to strong trade enforcement.

“We have recently executed two successful rebar micro mill start-ups and believe the East Coast market will be in need of additional rebar supply in the coming years, particularly with the recent passage of the infrastructure spending bill,” said Leon Topalian, president and CEO of Nucor.