Steel Products

H2 Green Steel Inks Pacts with Rio Tinto, Vale for Iron Ore Pellets
Written by Ethan Bernard
August 9, 2023
H2 Green Steel is partnering with global mining and metals company Rio Tinto and Brazilian miner Vale for the supply of direct-reduction iron (DRI) ore pellets for the company’s green steel production in Sweden.
The sustainable Swedish steelmaker reported Wednesday that it has signed a multi-year supply agreement for DRI pellets from Rio Tinto’s Iron Ore Co. of Canada (IOC).
This will account for a significant part of the iron ore supply to H2 Green Steel’s flagship plant in Boden, Sweden, the company said.
Additionally, the companies have signed an agreement where Rio Tinto will buy and on-sell a part of the surplus low-carbon hot briquetted iron (HBI) made by H2 Green Steel during the ramp-up of its steelmaking capacity.
“This is a significant milestone for our project in Boden,” Henrik Henriksson, CEO of H2 Green Steel, said in a press release. “Not only by securing a supply of the high-quality iron ore needed for our green steel production, but also because we have a buyer for a portion of the HBI we initially expect to produce.”
In a separate release Wednesday, H2 Green Steel reported a multi-year agreement where Vale will supply the steelmaker with iron ore pellets as input material for its mill in Boden.
“This marks another strategic agreement for H2 Green Steel where Vale, in addition to the supply of iron ore pellets, also brings significant experience and great technical knowledge into the collaboration,” Henriksson said. “We look forward to developing decarbonization paths together with the team at Vale.”
H2 Green Steel said the pellets will be delivered from Tubarão in Brazil to Boden via the Port of Luleå in Sweden.

Ethan Bernard
Read more from Ethan BernardLatest in Steel Products

Nucor increases plate prices by $40/ton
Nucor aims to increase prices for steel plate by $40 per short ton (st) with the opening of its May order book. The Charlotte, N.C.-based steelmaker said the increase was effective with new orders received on Friday, March 28, in a letter to customers dated the same day. The company said the price hike applied […]

US CRC price gains ground over imports
US cold-rolled (CR) coil prices increased again this week, while offshore prices declined.

SMU Steel Demand Index momentum slows
Steel Market Update is pleased to share this Premium content with Executive members. Contact info@steelmarketupdate.com for information on how to upgrade to a Premium-level subscription. Growth in SMU’s Steel Demand Index eased in March after reaching a four-year high in late February. Despite a moderate gain, the index remains in expansion territory. The Steel Demand […]

Leibowitz: Impact of tariffs on US manufacturers
On February 10, President Trump announced a massive restructuring of tariffs on steel and aluminum. Those changes took effect on March 12, and they will impact US manufacturing. What will the impact be? Bye-bye exclusions Perhaps the most important change, which hits imports from all countries, is the loss of a product exclusion process to […]

SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]