Every modern society faces the dual (and at times conflicting) ideals of economic growth and environment responsibility. Steel has played an enormous role in the world’s economic growth in helping build buildings, bridges, ships, trains, cars, machines, and more objects essential to the advancement of society.
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Look around the world, the economy, and just about every market and industry out there. You’ll see that the coronavirus pandemic has changed the world in virtually every way possible. The steel market is not exempt from this, with COVID-19 taking a significant toll on our industry.
The COVID-19 pandemic threw the world for a loop when it began to spread rapidly in March 2020. The world panicked, and everyone locked themselves indoors to stay safe. This resulted in a bonafide economic recession due to decreased consumer activity.
COVID-19’s sweep through the globe has prompted international responses on a scale that we have seldom seen outside of wartimes — and war has been declared on the deadly virus. The impact of the virus cannot be fully measured at this time, as the U.S. has not yet reached the peak of infections that are guaranteed to overwhelm the healthcare system.
Nucor will be building the first wind-powered US steel mill plant, expected to open in Sedalia, Missouri. This plant is part of a partnership between Nucor and Evergy through a 75-megawatt power purchase agreement.
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