Tag: Direct-Reduced Iron

Sweden’s H2 Green Steel has signed an agreement with Brazilian miner Vale to jointly study the feasibility of developing green industrial hubs in Brazil and North America.

Leading voices in US the scrap industry discussed the current outlook and future challenges at Steel Summit 2023’s panel on Scrap and Metallics: Navigating the Boom in EAF Sheet Production.

Nucor reported sequentially higher second quarter earnings but warned that results would be worse in the third quarter. "We expect earnings in the third quarter of 2023 to decrease compared to the second quarter of 2023," the company said in comments released with Q2 earnings results on Monday, July 24.

Nucor reported sequentially higher second quarter earnings but warned that results would be worse in the third quarter. “We expect earnings in the third quarter of 2023 to decrease compared to the second quarter of 2023,” the company said in comments released with Q2 earnings results on Monday, July 24. The Charlotte, N.C.-based steelmaker posted […]

Ternium announced this week that its new slab mill will be built in Pesquería, Nuevo León, Mexico. The Luxembourg-based Latin American steelmaker had said earlier this year it would build an electric-arc furnace (EAF) and direct-reduced iron (DRI) facility in North America. Brownsville, Texas, had been rumored to be in the running for the new […]

Nucor Corp. said its second-quarter earnings should beat those of the prior quarter on strength in all its business segments. The steelmaker expects its Q2 earnings to be in the range of $5.45 to $5.55 per diluted share. Although down from the $9.67 per share posted in Q2 last year, it’s an improvement upon Q1 […]

TT Iron Steel Co. Ltd. (TTIS) has signed an agreement to acquire the ArcelorMittal Point Lisas iron and steel plant in Trinidad and Tobago. Completion of the transaction is subject to approval by Trinidad and Tobago’s government, TTIS said in a release on June 7. The company said initial refurbishment and restart of the plant […]

General Motors will soon be sourcing low-carbon steel from ArcelorMittal North America. The steelmaker said it will provide the Detroit-based automaker with its XCarb™ recycled and renewably produced (RRP) steel made at its ArcelorMittal Dofasco plant in Hamilton, Ontario. Shipments are anticipated to begin in the current quarter, ArcelorMittal said in a statement. Made via […]

Nucor Corp. is joining the carbon capture movement. The Charlotte, N.C.–based steelmaker announced on June 1 that it has signed an agreement with ExxonMobil to utilize carbon from its direct-reduced iron (DRI) facility in Louisiana. ExxonMobil will capture, transport, and store carbon – up to 800,000 metric tons of CO2 per year – from Nucor’s […]

Decarbonization was the order of the day at the AISTech 2023 President’s Award Breakfast on Tuesday. Other issues highlighted included workforce availability and bringing more women into the steel industry. With over 1,300 attendees present at the breakfast in Huntington Place in Detroit, and hundreds more watching online, the AIST Board of Directors Awards were […]

Saudi Arabian energy company Aramco, the Public Investment Fund (PIF), and China’s Baoshan Iron & Steel (Baosteel) signed an agreement on May 1 to build a steel plate manufacturing facility in Saudi Arabia. The operation is expected to have a plate production capacity of up to 1.5 million tons per year, Aramco said. It will […]

As the ISRI Convention and Expo this week in Nashville, Tenn., comes to a close, I’m sure everyone’s mind is on recycling. While green steel and sustainability have been buzzwords for some time now, evidence of change is growing. You may recall the announcement of an alliance between US Steel, Equinor, and Shell to establish a […]

ArcelorMittal is anticipating delays in shipments after recent incidents took down two of its European blast furnaces (BFs).  On March 22, a serious fire totally disabled BF A at its mill in Gijón, Asturias, in northeast Spain. Then, on March 30, BF HF4 at its Dunkirk plant in northern France was idled after a similar […]

Ternium SA and its affiliates aim to take a majority stake in Brazilian flat-rolled steelmaker Usinas Siderúrgicas de Minas Gerais SA (Usiminas). The Latin American flat-rolled steelmaker said it and related companies had agreed to pay $111 million in cash for 57.7 million in ordinary shares of Usiminas. The shares will be purchased from Japan’s […]

Despite strong profitability within its different product segments, Nucor Corp. expects first-quarter earnings to be down both sequentially and year on year.  The Charlotte, N.C.-based steelmaker said Q1 operating income should be higher than the previous quarter while net earnings will be lower. This is due to higher state tax benefits seen in Q4 as […]

The steel industry in the US, and across much of the developed world, finds itself between two greens. On the one hand is the constant innovation towards sustainable, decarbonized “green” steel. And, on the other, is a more traditional green, the bottom line: money. The hope is to keep the two aligned, increasing profits while […]

ArcelorMittal has completed the acquisition of Brazilian steelmaker Companhia Siderúrgica do Pecém (CSP) for approximately $2.2 billion. Located in the state of Ceará in northeast Brazil, CSP produces slab and operates a 3-million-ton capacity blast furnace. “This is a very exciting strategic acquisition for ArcelorMittal,” ArcelorMittal CEO Aditya Mittal said in a statement. “It enables us to capture steel […]

Mexico has historically relied on steel sheet product imports to meet its demand as domestic suppliers, such as Ternium and AHMSA, had insufficient production capacity. But, in recent years, both Ternium and ArcelorMittal have built new capacities for hot-rolled (HR) coil in Mexico. Ternium is also in the process of building more downstream capacity and […]

The Biden administration has hit Russian pig iron as well as other steel and metal products with tariffs of up to 70%. The move was made with less fanfare than the 200% tariffs on Russian aluminum announced in a presidential proclamation last week. The tariffs were included in an annex attached to that proclamation. The […]

Ternium plans to spend $2.2 billion to build an electric-arc furnace (EAF) and direct-reduced iron (DRI) module in North America. The Latin American steelmaker said the EAF would have capacity of 2.86 million short tons (2.6 million metric tons) per year and that the DRI unit would have capacity of 2.31 million short tons (2.1 […]

The outbreak of war in Ukraine triggered an energy crisis in Europe. Gas and consequently electricity prices soared and remain high. European production of commodities such as ammonia, aluminum, and zinc which require significant energy and/or natural gas were and remain disrupted to differing degrees. Natural gas is supposed to be a ‘transition fuel’ in […]

US Steel Corp. has completed the foundation, along with the first placement of structural steel, at its direct-reduced (DR)-grade pellet production facility in Keewatin, Minn. Completion of the $150-million Keetac project is expected later this year, with first pellets produced in 2024, the company said. US Steel broke ground on the facility in Q3 2022, as […]

By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Sheet Products Monitor  Steel sheet price volatility has peaked in the US after record average week-on-week (WoW) price changes during 2022. In our view, prices will trade in a much narrower band over at least the next five years (barring any further black swan events) – […]

Nucor Corp.’s fourth-quarter net earnings slid 44% from a year ago, but the company still reported the most profitable year in its history. The Charlotte, N.C.-based steelmaker posted net earnings of $1.26 billion in the quarter ended Dec. 31 vs. $2.25 billion in the same quarter of 2021 on net sales that dropped 16% to […]

Nucor Corp. said it expects lower earnings in its steel mills segment in the fourth quarter ending Dec. 31 vs. the previous quarter.  Reasons cited include lower average selling prices, margin compression and lower volumes, with the largest decrease in profitability expected at its sheet mills. The Charlotte, N.C.-based steelmaker said it expects overall fourth-quarter […]

Cleveland-Cliffs Inc. said it is introducing a new line of electrical steels to the North American market. The new line will be used to manufacture high-frequency motors and generators. Named Motor-Max, the brand consists of high-frequency, non-oriented electrical steel (HF NOES) designed for use in high-speed motors, electric vehicle (EV) traction motors, aircraft generators, and additional rotating […]

ArcelorMittal has broken ground on its $1.8 billion CAD ($1.3 billion USD) project to decrease the carbon intensity of its steelmaking. The ground-breaking ceremony comes just about a year after the Hamilton, Ontario-based steelmaker announced the initial federal subsidy granted for the investment. ArcelorMittal Dofasco, a subsidiary of multinational ArcelorMittal SA, is working towards decreasing […]

US Steel plans to stop making steel at its Granite City Works near St. Louis in the second half of 2024, a company spokeswoman told Steel Market Update on Tuesday. The Pittsburgh-based steelmaker expects that the mill’s blast furnaces will switch over to pig iron production as part of a deal with SunCoke Energy Inc., […]

Nucor Corp.’s $3 billion acquisition of CHI Overhead Doors, its largest deal ever, represents a shift away from the company’s traditional roots as a steelmaker. “We absolutely want to pivot from being just a steelmaker to a manufacturing company,” Nucor president and CEO Leon Topalian said. That’s notable because Nucor is the largest steelmaker in the […]

US Steel is no longer importing pig iron from Ukraine and Russia for its Big River Steel Works – now the official name of its Osceola, Ark., electric arc furnace (EAF) sheet mill. The Pittsburgh-based steelmaker has also mostly weaned its integrated steel mill in Košice, Slovakia, off Russian raw materials as well, they said. […]