By CRU Economist Frank Eich, from CRU’s Global Economic Outlook COP26, the first Conference of the Parties since the outbreak of the pandemic, is widely seen as an important follow-up to the 2015 Paris Agreement. In 2015 countries committed to carbon reduction targets in the form of nationally-defined contributions. Expectations are high that governments will […]
The 2021 SMU Steel Summit started with a bang on Monday morning. Turns out it was a transformer that blew. Just as the opening video and music was revving up and host John Packard was getting into his opening remarks, the Georgia International Convention Center was plunged into darkness save for some emergency lighting. Thinking […]
The Senate passed a sweeping infrastructure bill on Tuesday – the Infrastructure Investment and Jobs Act – that calls for a nearly $1 trillion federal investment in roads, bridges, rail, the electrical grid and broadband. Steel is chief among the industries that stand to benefit from this new spending over the next decade if the […]
By Greg Wittbecker, Advisor, CRU Analysis The $1.2 trillion infrastructure bill promises to deliver about $550 million in actual new investment. The breakdown of that investment looks as follow. Aluminum and steel have superior sustainability advantages and should exploit them. Clearly, the steel industry is cheering the passage as much as the aluminum industry. Both […]
ArcelorMittal Dofasco plans to spend Canadian $1.77 billion ($1.41 billion U.S.) to install a new direct-reduced iron (DRI) plant and electric arc furnace (EAF) at its steel mill in Hamilton, Ontario. The subsidiary of multinational steelmaker ArcelorMittal SA said the project hinges on support from the Canadian government, which has agreed to contribute C$400 million […]
ArcelorMittal Dofasco plans to spend Canadian $1.77 billion ($1.41 billion U.S.) to install a new direct-reduced iron (DRI) plant and electric arc furnace (EAF) at its steel mill in Hamilton, Ontario. The subsidiary of multinational steelmaker ArcelorMittal SA said the project hinges on support from the Canadian government, which has agreed to contribute C$400 million […]
2021 SMU Steel Summit Conference – Revised Agenda as of July 27, 2021 The 2021 SMU Steel Summit Conference will be held at the Georgia International Convention Center on Aug. 23-25. The convention center is conveniently located next to the Atlanta International Airport (ATL). The center and the hotels surrounding the convention center are on […]
By Greg Wittbecker, Advisor, CRU Analysis U.S. Representative Scott Peters (D-CA) and U.S. Senator Chris Coons (D-DE) unveiled their FAIR Transition and Competition Act of 2021 on July 19. The stated objectives of the bill were: • Recognize the costs incurred by U.S. companies in producing cleaner products due to emissions-related laws and regulations • […]
Nucor plans to slash Scope 1 and Scope 2 greenhouse gas emissions at its steel mills by 35% by 2030. North America’s largest steelmaker also aims in the following years to be “net zero” when it comes to carbon emissions. “Our GHG intensity is less than one-third the world average, but we are committed to […]
ArcelorMittal Dofasco will be the next Canadian steelmaker to receive government funding to reduce carbon emissions, Canadian Prime Minister Justin Trudeau said. “Very soon we will have good news about another major investment, this time with Arcelor(Mittal) Dofasco,” Trudeau said of the Hamilton, Ontario-based flat-rolled steelmaker, which is part of multination steelmaker ArcelorMittal SA. Trudeau […]
Corporate executives in Europe have combined forces to lobby for policies to address climate change and to lead by example through their own companies’ actions. The new European CEO Alliance believes that fighting climate change will require a collective effort by all EU member states and collaboration between the public sector and industry to achieve […]
Though he admits it was not the original plan, Cleveland-Cliffs Chairman, President and CEO Lourenco Goncalves said Wednesday at AISTech that his company no longer intends to produce merchant pig iron for sale to competitors, as has been widely speculated. In the past two years, Cleveland-Cliffs has purchased AK Steel and ArcelorMittal USA, making it the largest […]
U.S. Steel is studying the possibilities for deploying carbon capture and storage (CCS) as well as hydrogen-based production as part of its efforts to decarbonize. The Pittsburgh-based steelmaker is doing so via a non-exclusive memorandum of understanding with a U.S. subsidiary of Norwegian energy company Equinor ASA. The effort will be centered in the Mon Valley […]
Mark Bula sees an analogy between the latest green steel technology and the electric arc furnaces (EAFs) that transformed traditional steelmaking back in the 1980s. “Just as minimills once disrupted the industry, we must once again take a monumental leap forward,” he said. Bula is well known in the steel industry for his prior role […]
I’ve noticed an increased focus on international issues reflecting moral and political subjects as opposed to economic ones, although these have been with us for a long time. Economists call this “virtue signaling.” The American Institute for Economic Research (AIER) published an article on the subject a few years ago, defining “virtue signaling” as “the […]
I’ve noticed an increased focus on international issues reflecting moral and political subjects as opposed to economic ones, although these have been with us for a long time. Economists call this “virtue signaling.” The American Institute for Economic Research (AIER) published an article on the subject a few years ago, defining “virtue signaling” as “the […]
2021 SMU Steel Summit Conference Revised Agenda as of June 20, 2021 There are 55 days before the start to the 2021 SMU Steel Summit Conference. We should have close to 300 companies and 800+ executives attending this year based on where we are today. The conference agenda is close to its final shape. There […]
2021 SMU Steel Summit Conference Revised Agenda as of June 20, 2021 There are 55 days before the start to the 2021 SMU Steel Summit Conference. We should have close to 300 companies and 800+ executives attending this year based on where we are today. The conference agenda is close to its final shape. There […]
A deadline has been set by the European Union and the U.S. to end Section 232 steel and aluminum tariffs, and any retaliatory measures, by Dec. 1, according to a draft communiqué obtained by Reuters. An announcement of the agreement is expected at the G7 Summit next week in Brussels. “We commit to work towards […]
A 100-day review, authorized by President Biden, was released this week to address vulnerabilities in critical U.S. supply chains. The report, “Building Resilient Supply Chains, Revitalizing American Manufacturing, and Fostering Broad-Based Growth,” was prepared by the departments of Commerce, Energy, Defense, and Health and Human Services. The 250-page report included recommendations not only for reducing […]
Join us for a free, 45-minute SMU Community Chat on Wednesday with an infrastructure policy expert from the American Iron and Steel Institute (AISI). Brett Smith, senior director of government relations at the AISI, will be the featured speaker during the webinar on May 12, at 11 a.m. ET. Smith serves as liaison between AISI member […]
2021 SMU Steel Summit Conference Revised Agenda as of May 9, 2021 The 2021 SMU Steel Summit Conference will be held at the Georgia International Convention Center on Aug. 23-25. The convention center is conveniently located next to the Atlanta International Airport (ATL). The center and the hotels surrounding it are at the first stop […]
2021 SMU Steel Summit Conference Revised Agenda as of May 9, 2021 The 2021 SMU Steel Summit Conference will be held at the Georgia International Convention Center on Aug. 23-25. The convention center is conveniently located next to the Atlanta International Airport (ATL). The center and the hotels surrounding it are at the first stop […]
Brett Smith, senior director of government relations at the American Iron and Steel Institute (AISI), will be the featured speaker during the next SMU Community Chat on Wednesday, May 12, at 11 a.m. ET. Smith serves as liaison between AISI member companies from the American steel industry and the U.S. Congress and federal agencies. He […]
Brett Smith, senior director of government relations at the American Iron and Steel Institute (AISI), will be the featured speaker during the next SMU Community Chat on Wednesday, May 12, at 11 a.m. ET. Smith serves as liaison between AISI member companies from the American steel industry and the U.S. Congress and federal agencies. He […]
Tata Steel Europe confirmed that it’s implementing a carbon surcharge on all new steel across Europe, effective July 2021. This new initiative by the India-based steelmaker will essentially pass on the cost of carbon emissions allowances to the buyer. “We recognise the challenges of climate change,” said a Tata Steel Europe spokesperson. “Tata Steel’s strategy […]
Everything You Want to Know About This Year’s Conference There is much to talk about at this year’s SMU Steel Summit Conference as the industry deals with record high prices, strong demand, challenges to supply, questions about trade, new steel mills about to come onstream and more recently announced, automotive moving to electric vehicles, questions […]
Everything You Want to Know About This Year’s Conference There is much to talk about at this year’s SMU Steel Summit Conference as the industry deals with record high prices, strong demand, challenges to supply, questions about trade, new steel mills about to come onstream and more recently announced, automotive moving to electric vehicles, questions […]
Integrated steelmaker U.S. Steel Corp. announced plans to become carbon neutral by 2050, on top of its existing goal to reduce greenhouse gas emissions intensity by 20% across the company’s global footprint by 2030. The use of electric-arc furnaces (EAFs) and other advanced technologies will be crucial to achieving such significant carbon emission reductions, the […]
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 […]