Wheeling Pittsburgh Steel Corp. completed more than half of a demolition program that is expected to generate in excess of $1.1 million in scrap steel savings.
The program began in the first quarter and is expected to be completed by late summer. It involves the demolition of buildings and permanently idled mill and railroad equipment at all six of the company's primary and finishing plants. The scrap is being cut to size for use in the company's basic oxygen furnace.
About 25 percent of the raw material that goes into the BOF is scrap steel, with the remainder made up primarily of molten iron. Scrap steel from the demolition program has already gone into the company's steelmaking operations.
"We took a careful look at the value of our idle equipment and vacant buildings due to the record high scrap steel prices," said Donald Keaton, vice president of Steelmaking and Procurement. "We were very fortunate to begin the demolition program as scrap prices peaked and have been very pleased with the results."
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