Economy
H2 Green Steel, Cargill Metals Ink Steel Deal
June 19, 2023
H2 Green Steel has entered into a multi-year deal with Cargill Metals to supply the company with low-carbon emission steel.
The Swedish sustainable steelmaker said in a press release Monday that the deal “aims to accelerate global ferrous supply chain decarbonization.”
The release noted that Singapore-based Cargill Metals, part of global conglomerate Cargill, “connects different parts of the ferrous supply chain, from iron ore mining to steel mills around the world.”
“It is the commitment to a responsible and sustainable connected ferrous metals supply chain that drew us to this partnership with Cargill,” Mark Bula, commercial head of Boden Steel at H2 Green Steel, said in the press release. H2 Green Steel has a production plant in Boden, in northern Sweden.
Bula said Cargill’s global reach will help H2 Green Steel’s products be available to other markets as demand grows beyond the EU.
H2 Green Steel recently signed a memorandum of understanding with Mercedes-Benz for the potential supply of green steel made in North America, while also inking an agreement with Germany-based Mercedes-Benz to deliver ~50,000 metric tons of green steel annually for use in the automaker’s European plants.
By Ethan Bernard, ethan@steelmarketupdate.com
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