Features

Fruehauf lands role at robotics, AI firm Carnegie Foundry
Written by Ethan Bernard
October 8, 2024
Richard Fruehauf, formerly of U.S. Steel, has been named chief venture officer of robotics and AI firm Carnegie Foundry.
Fruehauf most recently served as senior vice president and chief strategy and sustainability officer of Pittsburgh-based U.S. Steel.
As previously reported, he left the steelmaker in June.
In his new role, Fruehauf will focus on securing key partnerships and investments to support new ventures.
“Having worked with Carnegie Foundry during my tenure at U.S. Steel, I was deeply impressed by its unique capability to deliver a continuous flow of significant innovations,” Fruehauf said in a statement on Monday.
“I am excited to now play a direct role in helping to bring pioneering IP to market,” he added.
Pittsburgh-based Carnegie Foundry said decarbonization and sustainability are among the key areas the company is targeting for future market entry.

Ethan Bernard
Read more from Ethan BernardLatest in Features

CRU: Soft demand weighs on sheet imports into the US
US domestic sheet prices have remained rangebound in recent weeks as supply tightness met weak demand. Demand for steel produced in the US increased among some Mexican industrial buyers....

SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members.

SMU Survey: Current Sentiment sinks to lowest level since May 2020
SMU’s Steel Buyers’ Sentiment Indices both fell this week, with Current Steel Buyers’ Sentiment notching the lowest reading since May 2020.

Final Thoughts
The US scrap market finds itself in a familiar position as we progress into the final quarter of the year.

Busheling and shredded tags drop, widening HRC vs. prime scrap spread
US scrap prices fell on busheling and shredded in October, while HMS remained flat, market sources told SMU.