b'correction compared to the hammering re- extractionindustries. Thecompanysaero-ceived by some other steel shares. spacecustomersincludeAirbus,Boeing, Embraer, and Bombardier, which use Voes-Nucors Kentucky investments will expandtalpine products in structural and undercar-the production capability of the Nucor Steelriageparts,enginecomponents,anddoor Gallatin plant in Ghent from 1.6 million tonssegments. The new plant will process mate-to three-million tons annually and will alsorial produced by Voestalpines specialty steel increase the maximum coil width produced.plant.The pickle galvanizing line is expected to be operational within the next few months andVoestalpine CEO Wolfgang Eder claimed will produce 500,000 tons per year of galva- the plant startup is a positive signal for Eu-nized hot band steel. Ferriola said Nucor isropean industry, as this is the first investment evaluating additional expansion projects asin a completely new steel plant in decades. part of the companys initiative to grow itsBy 2021, he added, Voestalpine will have sheet business.invested half a billion euros in technology A positive signal for European industry, as this is the first investment in a completely new steel plant in decades.developmentanddigitaltransformationat U.S.Steelannouncedin Augustthatitthe site in Kapfenberg. would invest $750 million to modernize and enhance its Gary Works plant in Indiana. InAccording to The New York Times report, June, Big River Steel announced that it is ex- the U.S. steel industry over the last 40 years panding its Arkansas-based scrap recyclinghas receivedas it is nowsubstantial lev-and steel production facility, doubling theelsoftradeprotection.Theproblem,ac-companyshot-rolledsteelproductionca- cording to one expert, is that during these pacity to 3.3 million tons annually and fa- periods of protection, U.S. steel companies cilitating the companys ability to produceusuallydontmakeinvestmentsthatpro-higher grades of the electrical steel used inmote efficiency and competitiveness.energy efficiency products and in hybrid and electric vehicles. PerhapsNucoristheexceptiontothat rule.Butgivenplummetingdemandand Europes First New Steel Plantprices, the best bet for the steel industry as a whole might be for the U.S. government in 40-years to embark on a major infrastructure initia- POSCO steel plant in South KoreaEuropes first new steel plant in 40 yearstive, a program that has been spoken about willbefullydigitalized,accordingtothefor years but which has not yet materialized. global,Vienna-basedVoestalpineGroup,A one-thousand mile southern border wall which generated revenues of over 13 billionmadeofsteelslats,asoncesuggestedby euros during its 2017/2018 fiscal year. Be- President Donald Trump, might also boost ginning in 2021, the new plant will producedemand for steel-industry products.over200,000tonsofhigh-performanceUnfortunately, given the current partisan steels annually, chiefly for the aerospace andgridlock in Washington, it is highly unlikely automotive industry as well as the oil andthat either such project will come about any gas sector.time in the near future.The new steel plant will replace an exist-ing Voestalpine plant in Kapfenberg and will producepre-materialsfortheaerospace, 3D-printing,automotive,andoilandgas 6 THE UNCONTAINED www.theuncontained.com'