Kinder Morgan, Inc. (NYSE: KMI) revealed that it reached a fresh 10-year agreement with Nucor Corporation (NYSE: NUE) to offer in-plant services for five of Nucor's facilities at Decatur, Alabama; Hertford, North Carolina; Berkeley, South Carolina; and two facilities at Blytheville, Arkansas. According to the companies, the deal is worth about $900 million.
Kinder Mogan said the five facilities produce about 13.4 million tons of steel products annually. The company added that it would be handling about 14.8 million tons a year of scrap steel, direct-reduced iron, pig iron and other feedstocks, and providing other ancillary services.
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27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
KMI Terminals President, John Schlosser, commented, "Nucor is one of our largest customers in our Terminals division. This new agreement ensures that KMI will continue to provide handling, processing, warehousing and marine services to Nucor, the largest recycler and steel producer in North America."
He added, "These facilities provide Nucor and other customers access to our growing national network of marine and rail terminals. This agreement also reconfirms KMI's commitment to growing our terminals business."