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Comeback by Charles R. Morris

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  CHAPTER 2

The Return of the Whales

Nucor, America’s biggest steel company by market value, has transformed the steel industry by focusing on “mini-mill” steel production, using scrap steel as its raw material. Mini-mills once actually were small steel mills designed for economic production of customized orders, often using more advanced technology than the industry giants. Nucor seized on the mini-mill model of flexible, low-cost, high-quality steelmaking and drove it to automobile-production scale. Last year, its US production was nearly thirty million tons from twenty-three mills, and it is the dominant American structural steel provider, with ...

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