Liberty Steel maintains ambitious steel, scrap goals to achieve by 2020

Liberty Steel USA has ambitious goals to become a top presence in the United States' steel and scrap sectors by 2020, including via the build-out of 5 million tons of steel capacity and scrap consumption to power that output, a top company executive said on Tuesday January 15.

Recently announced upgrades at Liberty Steel's two rod mills means it will potentially operate some 2.6 million tons of steel capacity in the near term, putting the company half way to its target, Sanjeev Gupta, executive chairman of Liberty Steel USA parent company GFG Alliance, said. Liberty Steel could potentially add 300,000 tons of melt capacity at its newly acquired Keystone Consolidated Industries (KCI) wire rod mill in Peoria, Illinois, and 500,000 tons of melt capacity at its Georgetown, South Carolina, mill - on top of an existing 1.8 million tons of melt capacity, Gupta announced on January 15. The capacity boost at its KCI mill could come relatively quickly, and certainly by the end of 2020 if not sooner, assuming permitting falls into place, Gupta said in a telephone interview with Fastmarkets AMM. “There are a lot of small steps [in terms of upgrades] at both these plants but all of them will be completed within the current year and next...

Published

January 16, 2019

20:52 GMT

Chicago