Tag: Decarbonization

Elon Musk's DOGE is determining which Department of Energy grants to advance and which ones to terminate, according to several media outlets

Nucor’s “ambitious” carbon targets by the end of the decade and beyond have been certified by the Global Steel Climate Council (GSCC). The Charlotte, N.C.-based steelmaker used a base year of 2023 for its science-based emissions targets (SBET). It set an SBET of 0.975 metric tons (mt) of CO2 emissions per mt of hot-rolled steel […]

The Department of Energy's Industrial Demonstrations Program page states that it is no longer moving forward with SSAB.

Japan’s Nippon Steel says it has achieved the world’s highest reduction in CO2 emissions to date by using heated hydrogen instead of coal to reduce iron ore in a blast furnace.

This CRU Insight discusses a few key topics our clients have been asking about as 2024 comes to a close and 2025 begins. This piece introduces these topics briefly now before we discuss them in more detail in a webinar in January 2025. In previous years, we have published a year-end Insight on our ‘Top […]

Highlights from the aluminum industry this week

The OECD Steel Committee convened its 96th session last week in Paris, along with the Global Forum on Steel Excess Capacity. The event brought together 250 government and industry delegates from 40 of the largest steel-producing countries. The Committee’s discussions and presentations were clear: Steel markets worldwide are in dire straits.

Aluminum highlights for the week

I joined in a Steel Market Update community chat last week. Predictably, many of the questions concerned the likely results of a Trump or Harris victory in the election. Like most people, I don’t know who will win. But by next week I probably will know. Here is my take, with an emphasis on steel policy. There are a surprising number of similarities between the Democratic and Republican candidates’ positions on steel policy. In part, that is because both candidates are going after the same voters—steel workers, whether unionized or not.

Last month I traveled to Sweden to the CRU Steel Decarbonisation Summit in Stockholm. I wanted to see if the European take on decarbonization was broadly different from what we are talking about here in the US.

Earlier this month, Nippon Steel announced that it is applying for subsidies under the Japanese government’s Green Transformation Promotion Act to expand the company’s electric furnace steelmaking capabilities and to convert from blast furnace to electric furnace operations. As we have said before, transitioning from blast furnace- to electric furnace-based steelmaking is a good thing […]

Sweden’s SSAB has been awarded €128 million by the European Commission for the steelmaker’s efforts at decarbonization.

ArcelorMittal has entered into a 10-year commercial agreement with the Velux Group to supply the Denmark-based roof window maker with an increased amount of sustainably produced steel.

Steel Dynamics Inc. (SDI) has become the world’s first steel producer with carbon targets certified by the Global Steel Climate Council (GSCC).

The Global Steel Climate Council (GSCC) has taken a step forward in standardizing the decarbonization process with the publishing of its labeling for a certified science-based emissions target.

The US Department of Energy (DOE) is launching a pilot project to measure the greenhouse gas (GHG) intensity of certain energy-intensive industrial products, including steel.

U.S. Steel is the first steelmaker in the world qualified to sell its products as “ResponsibleSteel Certified Steel” at its Big River Steel operation in Osceola, Ark.

Whether it’s the twists and turns of the presidential election, the U.S. Steel deal, or just what’s happening with the movement of steel pricing, there has been no shortage of stories for us to cover.

Cleveland-Cliffs Inc. on Monday reiterated its commitment to a major decarbonization project at its Middletown Works in Ohio, despite an earlier report suggesting otherwise.

The only way to achieve net zero goals worldwide is to significantly reduce the greenhouse gas emissions of the global steel industry. And emissions standards can play a key role in encouraging (or discouraging) steel decarbonization. In that spirit, earlier this year, the Biden administration established a climate and trade task force, aimed at a promoting “a global trading system that slashes pollution, creates a fair and level playing field, protects against carbon dumping, {and} supports good manufacturing jobs and economic opportunity.” These are ambitious and laudable goals. Across sectors, the United States has a significant carbon advantage over many of its economic competitors. This is certainly true in the steel industry, where American manufacturers are among the lowest emitting in the world. In other words, when it comes to steel, climate-focused trade policy can go hand-in-hand with US competitiveness.

This CRU Insight explores how decarbonization will play a significant role in redefining steel trade patterns by shifting regional competitiveness and increasing steel demand needs.

GrafTech cited a “challenging” part of the business cycle as its net loss widened in the second quarter.

The United Kingdom and other countries are using the “green” label to subsidize bailouts of obsolete, inefficient, and excess capacity that should exit the market. US steelmakers have invested billions of dollars in technologies that curb greenhouse gas output. These investments have been market-based and led by EAF producers such as Nucor, Steel Dynamics, and CMC.

North America has one of the most robust steel scrap markets in the world. The continent has a long history of steel production, significant imports of steel and steel-containing products, and mature steel consumption. Due to this, the reservoir of scrap available to be recycled each year in the US and other North American markets is substantial and growing.

Radius Recycling continued to bleed red in its most recent quarterly report as it negotiated persistently challenging conditions in the recycled metals market.

Nearly 800 people have registered to attend Steel Summit on Aug. 26-28 at the Georgia International Convention Center (GICC) in Atlanta.

A roundup of recent aluminum news from CRU.

Sometimes, words can lead you in interesting directions. Specifically, crosswords. For the last six weeks we have been making steel-themed crosswords in the lead-up to SMU's Steel 101 course in Fort Wayne, Ind., which is taking place today and tomorrow. I’ve learned snippets of steel history and educated myself on the finer points of sponge iron.

When it comes to steel decarbonization, we do not need to compromise our climate ambition to make the types of demanding steel products needed for our 21st-century economy. Nevertheless, many of the world’s highest-emitting steel producers and their allies would have you believe that one cannot be done without the other. They are wrong. They […]

When you step out of the airport in Phoenix in June, the heat tends to focus your mind. I was in town to attend the Steel Manufacturers Association/Metals Service Center Institute (MSCI) annual meeting in Scottsdale, Ariz. The desert locale with palm trees, swimming pools, and the obligatory high-powered air conditioning was fitting for 2024. Between the presidential election and the geopolitical situation, things have definitely been heating up.