Trade Cases
US Steel Unveils Electrical Steel InduX
March 27, 2023
US Steel said its new electrical steel product, InduX™, will start production this summer at the company’s Big River Steel facility in Osceola, Ark.
The Pittsburgh-based steelmaker will be commissioning its new non-grain oriented (NGO) electrical steel line at that time. When fully operational, it will produce up to 200,000 tons of InduX steel per year.
The company noted that total expected capital expenditures for the NGO line of ~$450 million are funded by cash generated from Big River Steel.
InduX is a wide, ultra-thin, and lightweight electrical steel, having all the magnetic properties necessary for electric vehicles (EV), as well as generators and transformers, US Steel said.
The product unveiling occurred at the Corporate Climate Leadership panel at the Ceres Global conference in New York.
“We know achieving our goal of net-zero GHG (greenhouse-gas) emissions by 2050 requires extraordinary action from everyone, and we are doing our part by collaborating to find new business approaches and to develop new technologies,” Richard L. Fruehauf, US Steel SVP and chief strategy and sustainability officer, said in a statement.
By Ethan Bernard, ethan@steelmarketupdate.com
Latest in Trade Cases
Steel industry groups urge House action on LTPF 2.0
Six steel industry organizations have urged House Speaker Mike Johnson to include the Leveling the Playing Field 2.0 Act in any proposed package of legislation against China’s "unfair" trade practices.
CRU: Poor steel margins continue to push down raw material prices
Both iron ore and coking coal prices fell this week because of resistance from buyers. Iron ore prices have continued to fall throughout the past week, following sharp declines in steel prices in China, given no new policy announcement from the ‘Third Plenum’ meeting.
CRU: Imports cause concern in India and Vietnam
High levels of steel imports, especially from China, in recent months are worrying steel makers in India and Vietnam.
Price: The new greenwashing – subsidies to bail out obsolete, excess capacity
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.
AISI, AISC, University of Massachusetts get ~$6.4M EPA grant
The American Iron and Steel Institute (AISI), American Institute of Steel Construction (AISC), and the University of Massachusetts at Amherst have received a grant to enhance emissions reporting for steel construction projects.