Charleston is in line to land a warehouse operation that would store raw steel for the operator of a global metals marketplace.
The board of the London Metal Exchange is expected to make a decision about the project when its meets later this month, according to a published report.
“We’re working on plans to expand delivery to Charleston,” Chris Evans, head of business development for the exchange, told Reuters news service this week. “The Southeast of the states is very important for the steel market in the U.S.A., and we need to be part of that.”
The Port of Charleston was one of the key factors in picking a location.
Other details about the deal, such as the location, were not immediately available.
The warehouse would be the exchange’s fourth in the United States for a frequently traded commodity called steel billet, which is made at a Nucor mill in Darlington, among other places. The malleable metal is typically sold in bars that can be reshaped into finished products.
See Thursday’s editions of The Post and Courier for more details.