With significant EAF capacity coming online over the next few years, the talk of a tight scrap market creating problems for the EAF community has been an ongoing concern. But Mark Millet, president and CEO of Steel Dynamics Inc., is not overly concerned. He says innovation is the key to overcoming this potential obstacle.
Speaking at the Association for Iron and Steel Technology’s AISTech Town Hall Forum last week in Pittsburgh, Millett explained that the team at SDI’s Butler works in Indiana has reduced its prime scrap usage from 65-70% down to 40% over the past eight to nine months. If other EAF producers across the country were to do that as well, it would free up a reasonable amount of prime scrap, he said
America has a shred flow that is “almost limitless,” he said, and a massive reservoir of obsolete material that, if processed correctly, can reduce a lot of steelmakers’ prime scrap needs. Adding hot-briquetted iron (HBI) can do the same, Millett said.
“The technology has already been developed and will continue to be improved,” he said. “Innovation, creativity, ingenuity…these fix problems.”
Just this month, SDI acquired Mexican ferrous and nonferrous scrap recycler Roca Acero SA de CV in a move to bolster its scrap supply to its new Sinton, Texas, sheet mill. The $1.9 billion, three million tons per year facility was completed in the first quarter of this year.
By Laura Miller, Laura@SteelMarketUpdate.com
Laura MillerRead more from Laura Miller
Latest in Steel Mills
Goncalves blames USS for ITC tin products decision, USS fires back
Cleveland-Cliffs CEO Lourenco Goncalves said he blames U.S. Steel’s lack of participation in the tin mill products trade case for an unfavorable US International Trade Commission (ITC) decision.
Nucor slashes plate prices by $90/st
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its April order book.
USW remains skeptical of USS acquisition despite Nippon’s promises
The United Steelworkers union expressed a lack of trust in assurances from Japan’s Nippon Steel Corp. (NSC) regarding its proposed buy of U.S. Steel.
Biden admin scrutinizing Nippon Steel’s Chinese ops in USS deal: Report
Nippon Steel Corp.’s (NSC) operations in China are a potential security concern of the Biden administration, according to a Bloomberg report citing anonymous sources close to the matter.
Kestenbaum looking at multiple ways to grow Stelco
Alan Kestenbaum, the CEO of Stelco, said the company is actively evaluating ways to grow the company, including both organic and inorganic opportunities.