Sustainability: Technology

Daimler AG has recognized Big River Steel (BRS) for its “exceptionally sustainable” steel. The electric arc furnace (EAF) producer, a U.S. Steel subsidiary, has helped the German automaker reduce the CO2 emissions attributed to the steel used in its Mercedes-Benz products by more than 70%. Emission-free mobility is a corporate goal for Damiler, which thinks climate […] The post Daimler Praises BRS for ‘Exceptionally Sustainable” Steel appeared first on Steel Market Update.

By Michael Marley The mini sheet mills face a maxi problem, namely no additional supplies of prompt industrial scrap to feed their growing appetites for that raw material. As they move ahead with planned expansions of existing facilities and the construction of greenfield plants, electric arc furnace (EAF) steelmakers may be forced to rely on additional […] The post Prompt Industrial Scrap: A Big Shortage Decades in the Making appeared first on Steel Market Update.

The United States leads the world in production of sustainable steel and doesn’t get enough credit for its performance in reducing climate-changing CO2 emissions, said Steel Manufacturers Association President Philip Bell, during during Wednesday’s SMU Community Chat webinar. The minimill electric arc furnace is the preferred technology for lowering CO2 intensity. “The U.S produces over 70% […] The post Bell: American Steel, a Force for Good in the World appeared first on Steel Market Update.

Hot-rolled coil lead times at some mills are well into June, so steel buyers have to ask themselves now whether a year-long upswing in prices is sustainable. In short, can hot-rolled coil prices continue their record run upward? First a Look Back at Where We’ve Been Steel Market Update’s average hot-rolled coil price was $1,340 […] The post SMU Deep Dive: How High Can HRC Go? appeared first on Steel Market Update.

Given the heightened urgency to reduce carbon emissions and address climate change, nearly all the world’s automakers plan to replace at least some of the internal combustion cars and trucks in their lineups with fully electric vehicles (EVs). GM, notably, has pledged to introduce 30 new EVs by 2025 and to produce nothing but EVs […] The post What Does the Trend Toward Electric Vehicles Mean for Steel? appeared first on Steel Market Update.

Given the heightened urgency to reduce carbon emissions and address climate change, nearly all the world’s automakers plan to replace at least some of the internal combustion cars and trucks in their lineups with fully electric vehicles (EVs). GM, notably, has pledged to introduce 30 new EVs by 2025 and to produce nothing but EVs […] The post What Does the Trend Toward Electric Vehicles Mean for Steel? appeared first on Steel Market Update.

Schnitzer Steel tripled its net income from first to second quarter FY 2021 to $46 million, supported by robust revenues of $600 million. Strong demand for recycled metals, higher finished steel prices and elevated scrap pricing resulted in expanded metal spreads and operating margins. Net income per ferrous ton increased to $47 from $14 per […] The post Schnitzer Earnings Soar on High Scrap Prices appeared first on Steel Market Update.

Schnitzer Steel, a metals recycler and steel manufacturer, maintained operations throughout the pandemic, navigating though low scrap supply and falling demand and emerging optimistic about the year ahead. “These past seven months have been challenging for all of us,” said Chairman and CEO Tamara Lundgren of Schnitzer Steel. “We have been confronted with cascading crises, […] The post Optimistic Outlook at Schnitzer Steel appeared first on Steel Market Update.

The official opening of the SMU Virtual Steel Summit Conference is 29 days from today (Aug. 24-26). You will want to register early as we will be opening the platform during the prior week (probably Thursday and Friday) so people can get help as they practice using the platform, make appointments with other attendees and […] The post Final Thoughts appeared first on Steel Market Update.

The term “sustainability” is most often associated with environmentalism. True to the word, U.S. Steel’s 2019 Sustainability Report details the steelmaker’s mission to reduce its global greenhouse gas (GHG) emission intensity by 20 percent over the next decade. But what makes a company’s success “sustainable” over the long term goes far beyond environmental considerations, said […] The post U.S. Steel’s “Sustainability” Efforts Go Beyond the Environment appeared first on Steel Market Update.