Timken Has Planned to Retain of New SBQ Production Capacity Scheduled in The US

Reportedly, Ohio-based Timken said that the company has planned to retain of new SBQ production capacity scheduled in the US at the moment. 

Currently, the company has already spent approximately US$225 million to boost its large-diameter SBQ capacity in Canton, Ohio. 

Besides, the company will focus on large-diameter industrial bar instead of smaller automotive sizes, especially sizes from diameters of 6 inches to 16 inches. 

Meanwhile, Nucor also plans to invest about US$290 million to update its capabilities at mills in Memphis, Tennessee; Norfolk, Nebraska; and Darlington, South Carolina, while Republic Steel is spending $85.2 million on a furnace installation in Lorain, Ohio. 

In addition, Gerdau Special Steel North America to invest about US$67 million on update its Monroe, Michigan facility and Steel Dynamics Inc. is invested about US$76 million on upgrade at its Pittsboro, Indiana facility, respectively.