Sustainability: Emissions

Schnitzer Steel Industries Inc. said its fourth quarter ended Aug. 31 results were negatively impacted by declining ferrous and nonferrous sales prices and demand. The trend partially offsets the benefits of strong prices for its finished steel products. Tighter supply flows and an extended outage at its Everett, Mass., recycling facility were partly to blame […] The post Schnitzer: Near Record Annual Results Despite Falling Prices appeared first on Steel Market Update.

Members of Thyssenkrupp’s executive board have agreed to allocate more than €2 bn ($2 bn) of capital for construction of the German conglomerate’s first direct reduction iron (DRI) plant. A final go-ahead remains subject to public funding. The company’s intention is to award the contract for the 2.5 Mt/y unit at its Duisburg works in […]

Steel made by US electric arc furnace (EAF) producers emits 75% less carbon than steel produced by traditional blast furnace-based production. That’s according to an independent study conducted by Steel Market Update parent company CRU Group for the Steel Manufacturers Association (SMA). The results of that study were released today. Washington, D.C.-based SMA represents the […] The post SMA Study Conducted by CRU Finds US EAFs Emit 75% Less Carbon appeared first on Steel Market Update.

Luxembourg-headquartered ArcelorMittal will install a 2.5 Mt/y direct reduced iron (DRI) pellet unit at its Dofasco flat rolled steel works in Hamilton, Ontario. The plant is switching from the integrated blast furnace-basic oxygen furnace (BF-BOF) steel making route to the mini-mill DRI-EAF (electric arc furnace) route to lower its carbon footprint. The estimated savings in CO2 emissions […]

US aluminium products’ manufacturer, Novelis, and multi-metal producer, Kobe Steel of Japan, have held a ground-breaking ceremony to mark the construction start of a recycling centre. With a casting capacity of 100,000 t/y of sheet ingot, it is being built at the companies’ Ulsan Aluminum joint venture (JV) in South Korea. Costing $50 M (€50.2 […]

Editor’s note: Paul Lowrey did a presentation at the Tampa Steel Conference in February 2022 covering a range of industry issues. It was well received by the audience. and SMU asked him to do it again at Steel Summit 2022 with updates. This is an excerpt of his anticipated presentation. I’m approaching 30 years in […] The post Lowrey: It’s a Great Time To Be in the Steel Industry appeared first on Steel Market Update.

ArcelorMittal took a big step toward reducing carbon dioxide (CO2) emissions at its long products mill in Contrecoeur, Quebec, by partial replacement of natural gas with green hydrogen. The successful test on the mill’s direct reduced iron (DRI) modules saw 6.8% of natural gas replaced with green hydrogen during a 24-hour period. The outcome contributed to a measurable reduction […] The post ArcelorMittal’s Green Hydrogen DRI Test a Success in Canada appeared first on Steel Market Update.

ArcelorMittal has agreed to acquire a controlling stake in Voestalpine’s hot-briquetted iron (HBI) plant in southern Texas, in a deal that values the operations at $1 billion. The Luxembourg-based steelmaker will take an 80% stake in the plant located in Portland, Texas – just outside of Corpus Christi. Opened in October 2016, it’s one of […] The post ArcelorMittal Takes Majority Stake in Voestalpine Texas HBI Plant appeared first on Steel Market Update.

In his remarks during Wednesday’s Community Chat, Johnny Sjöström, the top executive at SSAB Special Steels, suggested that the fighting in Ukraine will make nations more gun-shy about becoming too dependent on their foreign trading partners. Nations in Europe and many other parts of the world are scrambling to maintain production without the exports of […] The post Final Thoughts appeared first on Steel Market Update.

North Star BlueScope contributed substantially to record earnings reported yesterday by BlueScope Steel Ltd., its Australian parent. Sales for the first half of the global company’s 2022 fiscal year totaled $9.42 billion ($6.77 billion U.S.), netting earnings before interest and taxes of about $2.2 billion ($1.58 billion U.S.). For its North Star BlueScope operation in […] The post BlueScope Reports Record 1H Profit, First Coil From EAF Expansion in Mid ’22 appeared first on Steel Market Update.