Steel Mills
Algoma and Triple M Form Prime Scrap Sourcing JV
Written by Michael Cowden
November 2, 2021
Algoma Steel Group Inc. and Triple M Metal LP have formed a joint venture – ATM Metals Inc. – to source prime scrap and other iron units for the Canadian flat-rolled steelmaker.
The tie up between Triple M, one of North America’s largest private scrap recyclers, and Sault Ste. Marie, Ontario-based Algoma comes as the latter is considering switching to electric arc furnace (EAF) steelmaking.
Prime scrap and virgin iron units – such as pig iron, direct reduced iron (DRI), and hot-briquetted iron (HBI) – are needed to make flat-rolled steel products such as sheet and plate via the EAF route.
“We believe that we can build a powerful supply chain solution to realize the iron unit needs of the business today and in the future,” Algoma CEO Michael McQuade said in a statement.
“Algoma and Triple M have a long history of working together, so this joint venture was a natural fit for both organizations,” said Chris Galifi, chief operating officer of Giampaolo Group Inc., the parent company of Triple M.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
Read more from Michael CowdenLatest in Steel Mills
ArcelorMittal Mexico to import from sister mills as it works to resume DRI production
ArcelorMittal has partially restarted operations at its direct reduction plant in Lazaro Cardenas, Michoacan. An explosion on Aug. 18 rocked the massive steelworks on Mexico’s Pacific coast, impacting production of direct-reduced iron (DRI).
Fall maintenance outages are coming in hot
Labor Day has passed, the sun is starting to set a little earlier each day, and cooler weather has begun to find its way down to many of us across North America. And you know what that means for the steel industry… Fall maintenance outages!
AISI: Domestic steel production ticks up
US raw steel production ticked up in the week ending on Sept. 6 after a decrease the week before, according to the most recent data from the American Iron and Steel Institute (AISI).
Domestic mill shipments slip in July: AISI
US steel shipments decreased month over month in July, but were up from last year, according to the latest figures from the American Iron and Steel Institute (AISI).
Nippon and USS drop litigation vs. USW and Cliffs
Another chapter of the Great U.S. Steel Buyout of the 2020s melodrama has closed, with all involved parties terminating the litigation disputes between them.