The US Export Import Bank (Ex-Im) has said it will support a Mesabi Metallics iron ore project in Minnesota to up to $10 billion, according to a report in the Economic Times of India.
MagIron LLC is moving to advance its DR-grade pellet and pig iron strategy. The Minnesota-based company closed on its acquisition of AHMSA's Reynolds Pellet Plant in Indiana on Dec. 31.
This CRU Insight provides details on the decline of Venezuela’s steel, DRI, and iron ore industries, which highlights the potential scope of recovery with the right policy agenda and support.
Nucor has guided to lower earnings sequentially in the fourth quarter but higher on-year.
A history of DRI production.
Nippon Steel is making good on the big capex promises it made to secure its purchase of United States Steel Corp. This week, the Japanese company and American steelmaker together unveiled various capital investments they plan to make across U.S. Steel’s footprint.
In the Americas, the ongoing conversion to EAF melting is driving demand for prime grades of scrap and increased use of ore-based metallics
ArcelorMittal has partially restarted operations at its direct reduction plant in Lazaro Cardenas, Michoacan. An explosion on Aug. 18 rocked the massive steelworks on Mexico’s Pacific coast, impacting production of direct-reduced iron (DRI).
Nucor’s Dan Needham views the steelmaker’s flexibility and diversification as key to pivoting when economic conditions require.
Thais Terzian, principal analyst at CRU, gave a presentation of Ore-Based Metallics(OBM), namely pig iron and direct-reduced iron (DRI), and how important they are to the global steel industry.
Will more DRI investment come to the US?
Can technology help with pig iron and DRI/HBI tariffs?
Nucor’s top exec Leon Topalian said the benefit of the current administration’s aggressive trade policies “trumps” any risk of potentially higher raw materials prices.
There are several other tariffs implications concerning the ferrous raw materials sector. In addition to tariffs on DRI/HBI imports, there will be also be a tariff on raw materials imported to domestically based metallics producers.
The imposition of reciprocal tariffs by President Trump as explained on Wednesday afternoon has rattled virtually every market. This policy has some advantages for the steelmaking sector, but there may be some disadvantages that were not considered, especially for the EAF producers of flat-rolled.
Alan Kestenbaum was the featured speaker at SMU’s Community Chat on Wednesday, where he discussed US Steel, tariffs, climate policy and other topics.
SSAB said lower plate prices in the US were the primary reason for reduced results in the second quarter. With a dismal Q3 outlook, the Swedish steelmaker is adjusting production across its facilities. That includes moving up its annual US mill outage in anticipation of a better Q4. SSAB Americas Revenues in the Americas segment […]
Nucor recording lower second quarter earnings on falling steel prices. And the Charlotte, N.C.-based predicted that profits would be lower still in the third quarter, primarily because of weaker results from its steel mills divisions.
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.
I thought we’d have more clarity this week on Section 232, Mexico, and a potential carve-out for steel melted and poured in Brazil. As of right now, the only official comment I have is from the Office of the United States Trade Representative (USTR).
There are a lot of rumors swirling around the steel market over the last couple of weeks. Chief among them was that we might see a price hike after Independence Day. Another concerns a key detail in the new Section 232 agreement with Mexico. Namely, steel imported from Brazil into Mexico. Of particular interest is its potential implication for slabs imported from Brazil, rolled in Mexico, and then exported to the US.
Nucor Corp. has guided to much lower second-quarter earnings, as profitability in its steel mills segment suffers due to lower prices and volumes.
When it comes to steel decarbonization, we do not need to compromise our climate ambition to make the types of demanding steel products needed for our 21st-century economy. Nevertheless, many of the world’s highest-emitting steel producers and their allies would have you believe that one cannot be done without the other. They are wrong. They […]
ArcelorMittal plans to continue to invest and expand its operations in North America, a senior company executive said in an exclusive interview with SMU. “People were talking about our demise in North America or maybe our exit. And I want to emphasize that nothing could be further from the truth,” said Brad Davey, executive vice president and head of corporate development at the company.
Cleveland-Cliffs is potentially eyeing a buy of NLMK USA’s Midwest assets, according to a report in Bloomberg.
After achieving its 2030 greenhouse gas (GHG) emissions reduction targets well ahead of schedule, Cleveland-Cliffs Inc. has set new reduction goals.
ArcelorMittal expects that its $2.2-billion acquisition of Brazilian steelmaker Companhia Siderúrgica do Pecém (CSP) will close in late February. “The transaction closes end of this month,” chief financial officer Genuino Christino said during an earnings call with analysts last week. The Luxembourg-based steelmaker had said that the deal had received final antitrust clearance in commentary […]