We’ve written in SMU about “green” steel and whether steel consumers, including market-leading OEMs, will pay a premium for it. What about the potential for premiums in scrap too? Maybe not for green scrap. But what about for “prime grade” or prime-equivalent shredded scrap? Shred that transforms into prime – maybe we could call it […] The post Final Thoughts appeared first on Steel Market Update.
The General Motors Co. (GM) recently recognized its top suppliers at its annual Supplier of the Year event in San Antonio, Texas. The Supplier of the Year award honors outstanding international suppliers who exceed GM’s requirements. Among the award winners were steelmakers Cleveland-Cliffs Inc., Nucor Corp., and Companhia Siderurgica Nacional (CSN). “We are thrilled to […] The post Steelmakers Named in GM’s Top Suppliers Awards appeared first on Steel Market Update.
Three US senators have asked the US Trade Representative to engage with the European Union on proposed measures that would limit the trade of steel scrap. Thom Tillis (R., N.C.), Joe Manchin (D., W.Va.), and Todd Young (R., Ind.) wrote a letter to USTR Katherine Tai on Feb. 28. The letter outlines the potential fallout to […] The post US Senators Hit Back at Proposed EU Scrap Restrictions appeared first on Steel Market Update.
Luxembourg-based ArcelorMittal has agreed to purchase Zlomex, a scrap metal recycling company with two yards in Poland. Last year they shipped almost 400,000 t of ferrous scrap metal to a range of steel mills and foundries, including ArcelorMittal's steel plants in Dąbrowa Gornicza and Warsaw. Zlomex, Zaklad Przerobu Zlomu in full, added a new shredder and […]
Sticking with a business model that’s proven successful over the past three decades, David Stickler and his team at Global Principal Partners (GPP) hope to make their next endeavor with Hybar’s two new rebar minimills another prosperous one. Steel Market Update sat down with the industry veteran this week in an exclusive interview to discuss […] The post INTERVIEW: Stickler Sticks With Proven Model for New Hybar Minimill appeared first on Steel Market Update.
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 […]