Steel Mills
US Steel Completes Foundation at Keetac Facility
Written by Becca Moczygemba
February 2, 2023
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 part of its metallics strategy. The investment is a focus for the company to expand its electric-arc furnace (EAF) metallics self-sufficiency strategy. DR-pellets are essential in the production of direct-reduced iron (DRI) and hot-briquetted iron (HBI). EAF sheet mills consume a substantial amount of DRI and HBI, in addition to scrap.
Currently, US Steel uses 10% of internally sourced feedstock, and 90% external, excluding obsolete scrap. Subject to negotiations with SunCoke Energy, and additional contingencies and approvals, the company’s goal by 2024 is to achieve 40% from internal sources and 65% external, excluding obsolete scrap.
By Becca Moczygemba, becca@steelmarketupdate.com
Becca Moczygemba
Read more from Becca MoczygembaLatest in Steel Mills
Goncalves sees more US trade actions ahead, says Nippon deal for USS has ‘zero chance’
Cleveland-Cliffs’ Lourenco Goncalves thinks trade measures announced by the US government on Tuesday against China were just the opening salvo in a series of trade actions. Case in point: The Biden administration targeted China’s “unfair” trade policies with additional tariffs on an array of Chinese-made goods - including steel, aluminum, and EVs.
Nucor holds weekly HRC price steady after last week’s cut
Nucor chose to hold its consumer spot price (CSP) for hot-rolled (HR) coil steady this week after stunning the market last week with a significant price decline. The steelmaker said in a letter to customers on Monday morning that its $760-per-short-ton (st) CSP base price for HR coil is effective immediately. The price is unchanged from the CSP announced on May 6 but down $65/st from $825/st April 29.
Nucor’s Jellison set to retire, Spicer tapped for EVP role
Nucor said EVP Douglas J. Jellison plans to retire on June 8 after more than 33 years with the company. Randy J. Spicer will be promoted to EVP effective May 12.
Republican Senators demand Biden block USS sale to Nippon
Three vocal Republican senators are demanding that President Joe Biden block the sale of U.S. Steel to Japan’s Nippon Steel.
Stelco reports solid Q1, plans to up value-added output
Stelco reported a positive start to 2024 in its first-quarter earnings report on Thursday. And with steady demand and a stable market, the Canadian flat-rolled steelmaker is optimistic for the remainder of the year.