Final Thoughts
US Steel to Supply GM With VerdeX From Big River
February 14, 2023
US Steel said it will supply General Motors (GM) with verdeX® sustainable steel produced at Big River Steel, its electric-arc furnace (EAF) sheet mill in Arkansas.
The low-carbon steel produced at the Osceola, Ark., mill will begin shipping to GM manufacturing facilities starting this year, the Pittsburgh-based steelmaker said.
“We are pleased to join GM in its mission to promote a world with zero emissions by providing such an advanced and sustainable steel product,” US Steel commercial officer Ken Jaycox said in a statement on Tuesday, Feb. 14.
VerdeX® is manufactured with up to 75% fewer emissions compared to traditional blast furnace production. Also, it’s made with up to 90% recycled content, US Steel said.
US Steel is currently underway with a $3-billion project to double capacity at Big River Steel with a new, EAF sheet mill with capacity of three million tons per year.
Once construction of the new mill is complete, the company said it would expand production of sustainable advanced high-strength and electrical steels, including verdeX®.
By Ethan Bernard, ethan@steelmarketupdate.com
Latest in Final Thoughts
Final Thoughts
Despite some scary headlines lately (especially about Trump potentially firing Fed Chair Jerome Powell) this is not October 2008 (financial crisis) or March 2020 (onset of the pandemic). But it sure seems like we’ve taken a relatively strong economy and poured a thick sauce of uncertainty over it.
Final Thoughts
I put some of our survey data through ChatGpt, with interesting results.
Final Thoughts
Nearly 50% of respondents to our latest survey thought hot-rolled coil prices have already peaked. And where will those prices be two months from now? Responses were decidedly split on that question.
Final Thoughts
A modest week-to-week change in HR price understates a huge swing in expectations.
Final Thoughts
What happens when ChatGPT meets SMU's Market Chatter? No, this is not an idea for the latest Hollywood blockbuster. Then again, with what Hollywood is putting out these days, Chatter Meets Chat might just turn out to be a hit. Rather, it’s that old idea of putting theory into practice. Recently, I conducted an interview with Doug Schrock, managing principal of AI at public accounting and consulting firm Crowe. He gave some tips on how to implement AI into your business.