In an announcement Friday, the company said it will build the new micro-mill, which will produce bar, in one of five states: Nebraska, Kansas, Missouri, South Carolina and Florida. The company also said it will expand one of its merchant bar mills in Illinois or Ohio. 

"Nucor's bar mills are a cornerstone of the company; they have generated significant value in the past, and they are expected to generate significant value in the future. Both the micro-mill project and the expansion of its merchant bar operations are part of Nucor's planned strategy for long-term profitable growth," the company said in a statement.  

"By leveraging Nucor's existing operating abilities, these projects will maintain our position as a low-cost producer and will allow us to better serve our customers."