Mesabi Metallics President and CEO Joe Broking spoke last week in Lee County, Iowa, at a public meeting to discuss some details about the proposed steel plant set to be located there. Recall that President Trump announced in late September that Mesabi Metallics, owned by India’s Essar Group, will build the largest electric-arc furnace steel plant in the US in Iowa.
Electra, which seeks to make high-purity iron from a process more familiar to base metals, presented at the fall meeting of the International Iron Metallics Association (IIMA) in Chicago last week. The Boulder, Colo.-based company intends to serve iron-consuming markets in both the US and abroad. Steve Beckwith, head of technology commercialization at Electra, said the "clean" iron the company makes could eliminate the need for coal and coke in iron production.
Hertha Metals has broken ground on its first commercial plant, a $100 million project that the startup says will demonstrate its process at scale and lay the groundwork for a 500,000-metric-ton-per-year steel mill. The company celebrated the groundbreaking of the Hertha Chalyx project on Friday, Oct. 9, in Conroe, Texas. The plant is designed to produce ~10,000 metric tons of steel-grade and magnet-grade high-purity iron each year. It will run on domestic iron ore, primarily from Minnesota’s Iron Range, and natural gas from Texas.
CRU Research Principal speaks about the implication of Mesabi Metallics' proposed steel mill in Iowa.
Iron ore shipments from US ports on the Great Lakes slipped in September from a year earlier, according to the Lake Carriers Association (LCA).
President Trump announced that Mesabi Metallics will build the largest steel plant in the US in the state of Iowa.
Mesabi Metallics is considering building a direct-reduction iron (DRI) plant as its Minnesota Iron Range iron ore mine and pellet plant begin startup, according to local reports.
For the next month, CRU forecasts that steelmaking raw materials demand will improve as buyers will restock ahead of seasonally stronger steel-demand periods.
The US-flag Lake Carriers Association reported steady iron ore trade on the Great Lakes in July.
This CRU insight is the third installment on how El Niño may impact the steel and steelmaking raw materials markets.
Steel and many steelmaking raw materials have been spared from additional forced labor Section 301 tariffs.
Ralf Haessig has joined the advisory board of Electra, the clean iron technology company said on Tuesday.
The US reliance on foreign pig iron has led some to eye bringing production back to our shores.
Mesabi Metallics Co. has announced the successful completion of its first production blast at its iron ore mine in Nashwauk, Minn.
Iron ore shipments on the Great Lakes picked up in June, and year-to-date shipments show improvement over last year.
For the next month, CRU forecasts that iron ore demand will fall m/m while metallurgical coal to be stable.
After a brief dip last month, iron ore prices have resumed their upward trajectory as the war in the Middle East escalates. Elevated costs have established a new pricing norm, keeping iron ore prices firm even as current levels exceed what supply‑demand balance would justify. Meanwhile, Simandou is finally gaining momentum after a slow start. Quality remains the decisive factor for steelmakers sourcing from the seaborne market, reshaping trade flows.
inancially burdened Baffinland Iron Mines is applying for shelter from creditors under Canada’s Companies’ Creditors Arrangement Act (CCAA).
CRU: 62% Fe iron ore prices remained rangebound in April following the surge in the first half of March.
Iron ore shipments on the Great Lakes in March were down 23.5% from a year earlier, according to the latest report by Lake Carriers’ Association.
A Lake Carriers’ Association (LCA) official said iron ore shipments would be delayed by a few weeks on the Great Lakes because of winter weather and a lack of icebreakers.
Prices for iron ore, aluminum, pig iron, and shredded scrap have all risen in the last 30 days. Busheling scrap held steady, while zinc and coking coal declined.
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.
This CRU insight demonstrates how the conflict in Middle East supports metallurgical coal prices and iron ore will be impacted by a potential decline in demand from China and rising costs, while the pellet market will be severely disrupted.
The main impact on the ferrous value chain from the Middle East conflict will be the higher energy costs in a prolonged scenario.
Iron ore shipments on the Great Lakes reached 2 million short tons in January.
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.
US-flagged iron ore shipments on the Great Lakes fell last year vs. 2024.
All but one of the steelmaking raw materials we track increased in price over the last month
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.