Eurobench.com

voda 4 november 2021 06:27

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Acerinox on Track to Achieve Best Results Ever in 2021

Spanish stainless steel giant Acerinox reported that profit after tax and non-controlling interests in the first nine months of 2021 amounted to EUR 373 million as compared to EUR 31 million in January to September 2020. Meltshop production increased by 26% YoY to 1,992,038 tonnes and revenue totalled EUR 4,769 million, a 38% increase compared to the first nine months of 2020. EBITDA, at EUR 671 million, was 2.7 times higher and the EBITDA margin rose to 14%. These results are driven by the strong performance of the US market. All of the Acerinox Group’s business units are recognising positive results, although the improvement seen in Acerinox Europa is being limited by the rise in energy costs. Acerinox CEO Mr Bernardo Velázquez said “Cost control management and efficiency improvements have enabled us to take advantage of the good market situation.”

The strong activity was maintained across all markets in the third quarter. In the third quarter of the year, the strong activity in the stainless steel division was maintained across all markets, and pre-Covid levels were achieved in the high-performance alloys division. In the aforementioned quarter, profit after tax and non-controlling interests amounted to EUR 171 million, 6 times higher than in the third quarter of 2020 (37% higher than in the second quarter of 2021). EBITDA, which totalled EUR 293 million, was 3.3 times higher than in the third quarter of 2020 (representing a 35% increase on the second quarter of 2021). The EBITDA margin was 17%. Between July and September, revenue, amounting to EUR 1,703 million, increased by 52% in comparison with the third quarter of 2020 (representing a 5% increase on the second quarter of 2021).

Acerinox said “The positive backlog situation, in both the stainless steel and high performance alloys divisions, affords the Group to have visibility until the first quarter of 2022. Despite the end-of-year seasonality, Acerinox estimates that EBITDA will improve slightly from the third to the fourth quarter, due to strong demand and low inventory levels. If these forecasts prove correct, the Group will achieve its best results ever.”

Source: Steelguru

voda 4 november 2021 06:28

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JSW Steel Update on CAPEX & Projects Progress

Indian steel maker JSW Steel, while declaring Q2 results, announced the commencement of integrated operations of the Dolvi 5 million tonne per annum brownfield expansion on 19 Oct 2021, with commissioning of one of India's largest Blast Furnaces, and Steel Melt Shops with two converters of 350 tonnes each.

Other key elements of the expansion project include:
Pellet Plant of 8 million tonne per annum
Two Phases of Coke Oven battery totaling 3 million tonne per annum capacity
Hot Strip Mill (5 million tonne per annum): Successfully rolled first slab in March 2021

The 5 million tonne per annum brownfield expansion at Vijayanagar is progressing well, with civil works underway at the site.

The Downstream expansion projects at Vijayanagar, Vasind and Tarapur are In advanced stages of implementation.

During the quarter, the company spent INR 3,639 crores on capex, against a total planned capex spend of INR 18,240 crores for FY2022.

Source: Steelguru

voda 4 november 2021 06:29

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Salzgitter Maintains Strong Performance in 9M of 2021

According to the preliminary figures now available, the Salzgitter Group generated a pre-tax profit of EUR 604.5 million in the first nine months of the financial year 2021 (9M 2020:EUR minus 224.4 million), thereby outperforming current market expectations. All segments lifted their results in comparison with the previous quarter. The main drivers were once again the Strip Steel and Trading business units. The at-equity contribution from the participating investment in Aurubis AG came in at EUR 133.5 million (9M 2020: EUR 53.4 million). The Salzgitter Group’s external sales rose to EUR 7.0 billion (9M 2020: EUR 5.3 billion).

Salzgitter said “Supply chain disruptions and their repercussions have also been impacting some of our Group companies since the end of the summer quarter. We nevertheless reaffirm our guidance and continue to anticipate the following for the Salzgitter Group in the financial year 2021:
An increase in sales to more than EUR 9 billion,
Pre-tax profit of between EUR 600 million and EUR 700 million.

Source: Steelguru

voda 4 november 2021 06:29

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MMK Reduces Integrated Air Pollution Index of Magnitogorsk City

Russian steel maker MMK’s Director for Labor Protection, Industrial Safety and Ecology Mr Grigory Shchurov, while speaking at the round table "Be honest: the whole truth about emissions into the atmosphere", announced that MMK has reduced the integrated air pollution index of Magnitogorsk by 2.5 times since 2017. In 2015, the Magnitogorsk Iron and Steel Works adopted a strategic development plan until 2025, one of the key goals of which is to drastically reduce the impact on the atmospheric air. The environmental measures implemented by MMK have already resulted in a 2.5-fold decrease in the integrated atmospheric pollution index KIZA of Magnitogorsk since 2017. The company plans to reduce the KIZA indicator by 2025 to the level of 5 units, which will correspond to the "Clean City" status.

He said “The implementation of a comprehensive action plan within the framework of the federal project Clean Air, of which we are a participant, will allow by 2024 to reduce the total emissions of pollutants in the city of Magnitogorsk relative to 2017 by 48 thousand tons or by 23 percent. A striking example of PJSC MMK's environmental investments is the construction of a modern sinter plant No. 5, which corresponds to the best world technologies, the launch of which made it possible to decommission the obsolete sinter plant No. 4 and significantly reduce the impact on the environment."

Among other significant recently implemented environmental projects by MMK are the construction of aspiration systems for foundry yards and bunker rooms at six blast furnaces, the reconstruction of a gas cleaning unit for a twin-shaft steel-making unit and sulfur trapping units in the sinter shop.

As of today, the construction of gas cleaning units in the oxygen-converter and electric steel-making shops, a new coke oven battery No 12 is in the active phase of implementation; it is planned to build a new blast furnace No 11. The implementation of the above projects will make it possible to take out of service the morally and physically obsolete units: five coke oven batteries and three blast furnaces.

Source: Steelguru

voda 4 november 2021 06:33

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Danieli Signs The Science Based Target Initiative

Danieli has submitted its commitment to reach zero CO2 emissions by 2050 to Science Based Target Initiative on November 2, 2021. Danieli is continuing down its path towards carbon neutrality with determination thanks to the gradual decarbonization of its production processes and value chain. For the CEO Giacomo Mareschi Danieli, this is a fundamental strength to ensure the enduring competitive edge of a company.

In June of 2019, Danieli had already received from SBTi the validation and certification of its emissions reduction targets, approved with a well-below 2 degree Celsius trajectory, in line with the requirements of the Paris Agreement and the Paris COP21 conference.

Below are Danieli’s targets based on a holistic approach for Scope 1, Scope 2 and Scope 3 emissions:

In 2021, as the second important step on its pathway towards decarbonization, Danieli requested and received from SBTi an approval of its commitment to an even more challenging target, Business Ambition 1.5 degree Celsius, in line with the targets set out by COP26, which is currently taking place in Glasgow.

Finally, the path continues today having reached the third step in which Danieli has requested to also be accepted for Net-Zero Standard – or achieving zero emissions by striking a balance between carbon emissions and carbon absorption, by 2050.

Science-Based Target Initiative is a global partnership between the Carbon Disclosure Project, the Global Compact of the United Nations, the World Resources Institute and the WWF, which aims to translate the objective of limiting global warming into a science-based emissions reduction target.

Source: Steelguru

voda 4 november 2021 06:34

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US Steel Kosice Undertaking BF 1 Maintenance in November

US Steel’s European flat steel subsidiary US Steel Kosice will stop one of its three BFs for repairs in November. The producer plans a 60-day outage at its BF No 1 of 1.2 million tonnes capacity to start in November and last through the remainder of the year. US Steel CFO Mr Christine Breves told analysts "This will remove approximately 250,000 tonnes of lost steel equivalent capacity from the market in the fourth quarter. Operational headwinds as a result of the planned outage modestly lower shipments and changes to the pricing dynamic in Europe are expected to result in reduced fourth quarter EBITDA versus the third quarter.”

US Steel Europe shipped 1.1 million tonnes of fiat steel products in Q3 2021, which is 35% higher than in the same period of the past year. Division’s EBITDA jumped from USD 39 million in Q3 of 2020 to USD 418 million in Q3 2021. EBIT/st was USD 370 for the quarter as against USD 16 in Q3 of 2020).

US Steel Kosice has a capacity to produce around 5 million tonnes per year of pig iron at its three BFs, 4.35 million tonnes per year of HRC, 2.2 million tonnes per year of CRC, 720,000 tonnes per year of HDG and 100.000 tonnes per year of welded pipes.

Source: Steelguru

voda 4 november 2021 06:34

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Metalloinvest’s Mikhailovsky HBI Secures Credit Line from SberBank

Leading Russian iron ore, merchant HBI producer and steel maker Metalloinvest’s Mikhailovsky HBI, established by USM and Mikhailovsky GOK, announced the opening of a new credit line with SberBank for project financing in the amount of USD 615 million and maturity at the end of 2034. Credit line will be used to finance investment and operating costs of the project to build an HBI plant in the Zheleznogorsk in Kursk region.

Mikhailovsky HBI (55% owned by USM, 45% by Mikhailovsky GOK) is currently building one of the world's largest and most advanced plants for HBI, a low-carbon raw material used for steel production in electric furnaces. The plant will have a production capacity of 2.08 million tonnes per year. The use of modern technologies based on the principles of green metallurgy will ensure reduced energy consumption and minimise the plant’s environmental impact. The new production facility is set to launch in Q1 2024.

Source: Steelguru

voda 4 november 2021 06:35

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Mechel Izhstal Secures Quality Seal for European Union

Leading Russian steel maker Mechel Group’s Izhstal plant has passed a recertification audit for product compliance with European Regulation 305/2011, which establishes mandatory requirements for the quality and safety of materials used in the construction industry. The audit was conducted by specialists from TUV Rheinland Indastrie Service GmbH, who assessed the processes of personnel training, procurement of materials, equipment maintenance, metrological support, product manufacturing, and document management. They visited the electric steel-making and rolling shops, metrological, control testing and non-destructive testing areas.

The auditors noted the compliance of the plant's quality management system with international standards ISO 9001 and EN 10025, confirmed the compliance of production and certification of hot-rolled steel from structural steel grades with the requirements of European regulation 305/2011 and recommended issuing a new certificate for a period of 3 years.

The Certificate of Conformity to the European Regulations provides additional opportunities for promoting Izhstal’s metal products on the European market.

Source: Steelguru

voda 4 november 2021 06:35

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Construction Progressing at Hot Dip Galvanizing 3 at Salzgitter

In June 2019, Salzgitter Flachstahl began building "Hot-Dip Galvanizing 3" at the Salzgitter location, one of the largest single investments in the past ten years. In the meantime, essential parts of the conveyor system, the skin pass stand and the furnace as well as the zinc pot have already been mechanically assembled. This is a big step towards the commissioning of the new hot-dip galvanizing plant 3. The zinc coatings to be implemented with the galvanizing unit will be in a typical automotive area. In combination with other units such as the skin pass mill, a galvanized surface is created that meets the technical and optical requirements of the automotive sector.

Operations will start in 2022. High-strength and ultra-high-strength steel grades are then to be produced for applications in the body and chassis, which play an important role in lightweight automotive construction and vehicle safety.

The new plant will produce hot-dip galvanized sheet metal with a thickness of between 0.7 and 2.5 millimeters and widths between 900 and 1,700 millimeters, thus complementing Salzgitter Flachstahl's portfolio of grades and dimensions in a targeted manner.

Source: Steelguru

voda 4 november 2021 08:53

0

Advies van Jefferies over Arcelor Mittal
Beurshuis Jefferies
Aandeel ArcelorMittal
Datum 04 november 2021
Advies Kopen
Koersdoel 40,00 EUR

Detail advies
(Trivano.com) - Op 4 november 2021 hebben de analisten van Jefferies hun beleggingsadvies voor ArcelorMittal (MT; ISIN: LU1598757687) herhaald. Het advies van Jefferies voor ArcelorMittal blijft "kopen".

De analisten behouden hun koersdoel van 40,00 EUR.

Op 4 november 2021 publiceerde ArcelorMittal kwartaalcijfers.

voda 4 november 2021 11:36

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Beursblik: UBS verhoogt koersdoel ArcelorMittal

Door ABM Financial News op donderdag 4 november 2021
Views: 889

(ABM FN-Dow Jones) UBS heeft donderdag het koersdoel voor ArcelorMittal verhoogd van 33,00 naar 35,00 euro met een herhaling van de koopaanbeveling. Dit bleek uit een rapport van de Zwitserse bank.

Analist Andrew Jones stelt zich in zijn rapport de vraag of het aandeel ArcelorMittal kan stijgen in een dalende staalmarkt. Het antwoord is volgens de analist volmondig 'ja'.

De reden dat Jones vertrouwen heeft in ArcelorMittal is de vrije kasstroom van de staalreus. Ook verhoogde de analist zijn ramingen voor de staalprijzen, vooral in de VS. Jones denkt dat de staalprijzen gaan dalen volgend jaar, maar minder hard dan hij aanvankelijk dacht. "Hoger dan verwachte prijzen in het vierde kwartaal zullen positief uitpakken voor de contractonderhandelingen met de autofabrikanten", merkte Jones op.

Voor 2022 rekent UBS op een EBITDA voor ArcelorMittal van 16,2 miljard euro, dat is 23 procent meer dan de consensus. Tussen 2021 en 2023 zal de vrije kasstroom van de staalreus goed zijn voor circa 67 procent van de marktkapitalisatie van het bedrijf, daarbij ook geholpen door een vrijval van 4 tot 5 miljard dollar aan werkkapitaal.

Volgende week komt ArcelorMittal met kwartaalcijfers, "en die zullen sterk zijn", aldus Jones. Hij rekent voor het derde kwartaal op een EBITDA van 6,3 miljard dollar, waar de consensus uitgaat van 6,15 miljard dollar.

Samen met een mogelijke aankondiging van een aandeleninkoopprogramma zal dit de koers steunen, verwacht UBS.

Het aandeel ArcelorMittal noteert donderdag een half procent hoger op 28,75 euro.

Bron: ABM Financial News

voda 5 november 2021 06:09

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Hyzon to Deploy Hydrogen Trucks for Steel Shipments at Sha Steel

Strategic Research Institute
Published on :
05 Nov, 2021, 4:32 am

Leading global supplier of zero emissions hydrogen-powered fuel cell electric commercial vehicles Hyzon Motors Inc announced a joint demonstration project with Zhangjiagang Haili Terminal Co Ltd, a subsidiary of Sha Steel Group. Under the demonstration agreement, Hyzon Motors expects to supply 49 tonne hydrogen fuel cell heavy-duty trucks for a 60-day trial at Sha Steel Group's operating base in Port of Zhangjiagang. The hydrogen-powered vehicles will provide transportation services from Sha Steel's plant to the port. During the trial, local supplier of hydrogen equipment and storage systems Guofu HEE will provide hydrogen through its hydrogen refueling station in Zhangjiagang.

Pending successful completion of the initial trial, the three parties expect to expand their business collaboration to accelerate the implementation of fuel cell electric vehicles, hydrogen refueling stations, and hydrogen production across the steel transportation industry. Through the collaboration, the companies plan to localize the production of fuel cell electric vehicle core components, reducing manufacturing and distribution costs.

Zhangjiagang Haili Terminal Co Ltd is a subsidiary of Sha Steel Group. Sha Steel is a Fortune 500 company and the 4th largest steel producer in the world. Sha Steel Group has five main manufacturing bases in Jiangsu, Liangning and Henan. It has vertically integrated manufacturing processes and advanced production technologies, with customers over 100 countries.

Headquartered in Rochester NY, with US operations in the Chicago and Detroit areas, and international operations in the Netherlands, Singapore, Australia, Germany, and China, Hyzon is a leader in fuel cell electric mobility with an exclusive focus on the commercial vehicle market, and a near-term focus on back to base (captive fleet) operations.

Guofu HEE is specialized in designing, manufacturing and installing hydrogen compression equipment, refueling station, and hydrogen storage system. Guofu is dedicated to becoming the leading one-stop hydrogen equipment solution company in China.

Bijlage:

voda 5 november 2021 06:10

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Tata Steel IJmuiden Starts News Slab Caster

Strategic Research Institute
Published on :
05 Nov, 2021, 4:33 am

Local media reported that the IJmuiden plant of Tata Steel Netherlands has started up a new continuous slab caster on October 21. Continuous caster can produce up 2.7 million tonnes per annum of slab up to 180 millimeters in thickness and 385 millimeters in width. Primetals was the contractor for the IJmuiden new casting machine, which can also automatically adjust the casting process in real time. Investment into the new equipment totalled EUR 220 million. Work to build it began in 2016

Addition of the third caster brings estimated total production capacity for the semi-finished flats to 9 million tonnes per year at the Dutch plant.

Tata Steel IJmuiden plant can produce an estimated 6.5 million tonnes of crude steel via two blast furnaces and three basic oxygen convertors. It can also roll about 7.5 million tonnes of hot and cold rolled coil. Further downstream, IJmuiden can produce hot dipped galvanized coil on three lines as well as coated products and tin plate.

voda 5 november 2021 06:14

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Salzgitter Supplies Low Carbon SALCOS HR Steel to Arania

Strategic Research Institute
Published on :
05 Nov, 2021, 4:34 am

Leading Spanish precision cold-rolled low and high carbon steel strips maker Arania has now received the first hot-rolled coils, the raw material of which comes from the new Salzgitter program SALCOS and which contributes to a reduction in emissions compared to conventionally produced hot-rolled coils. The low CO2 steel grades are produced in the Peine electric steelworks and processed in the Salzgitter Flachstahl rolling mills. By melting down recycled steel scrap and using climate-friendly energy sources, the CO2 footprint of the hot-rolled material is 71 percent lower than with conventional production on the blast furnace route. TÜV SÜD has verified and validated this on the basis of data from 2018 for the various process routes for the production of flat steel.

The Arania group was founded in 1940 and is represented as a steel processing group of companies at 5 locations worldwide. It produces precision cold strip with high and low carbon content as well as micro-alloyed steels. One of ARANIA's strengths is the integration of individual customer requirements into its manufacturing and management process, so that the highest quality and reliability is achieved throughout the value chain. With this in mind, Arania works with great commitment to sustainability and the environment to reduce the ecological footprint in terms of CO2 emissions.

voda 5 november 2021 06:17

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US Steel Imports in October 2021 Reduce by 18% MoM

Strategic Research Institute
Published on :
05 Nov, 2021, 4:35 am

Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis data, the American Iron and Steel Institute reported that steel import permit applications for the month of October totalled 2,396,000 net tons. This was an 18.8% decrease from the 2,950,000 permit tons recorded in September and a 26.0% decrease from the September preliminary imports total of 3,237,000. Import permit tonnage for finished steel in October was 1,998,000, down 19.1% from the preliminary imports total of 2,469,000 in September.

Finished steel imports with large increases in October permits vs. the September preliminary imports include black plate up 30%, structural pipe and tubing up 29%, stainless pipe and tubing up 15% and cold finished bars up 13%.

In October, the largest finished steel import permit applications for offshore countries were for South Korea (205,000 NT, down 31% from September preliminary), Turkey (125,000 NT, up 6%), Vietnam (100,000 NT, up 29%), Taiwan (79,000 NT, down 16%) and Japan (86,000 NT, up 5%).

For the first ten months of 2021 (including October SIMA permits and September preliminary imports), total and finished steel imports were 26,202,000 NT and 18,682,000 NT, up 36.8% and 37.2%, respectively, from the same period in 2020. The estimated finished steel import market share in October was 21% and is 21% year-to-date

Products with significant year-to date increases vs. the same period in 2020 include hot rolled sheets (up 111%), plates in coils (up 88%), wire rods (up 62%), cut lengths plates (up 58%), sheets and strip all other metallic coatings (up 57%), oil country goods (up 42%), cold rolled sheets (up 32%), heavy structural shapes (up 26%), hot rolled bars (up 26%), wire drawn (up 22%), sheets and strip hot dipped galvanized (up 21%), reinforcing bars (up 16%) and tin plate (up 16%).

Through the first ten months of 2021, the largest offshore suppliers were South Korea (2,300,000 NT, up 38% from the same period last year), Japan (835,000 NT, up 26%) and Turkey (800,000 NT, up 62%).

voda 5 november 2021 06:17

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Alfa Acciai Issues FAC to AIC for Robotic Tagging Application

Strategic Research Institute
Published on :
05 Nov, 2021, 4:36 am

Italian steel maker Alfa Acciai had awarded a contract to Automazioni Industriali Capitanio in summer of 2020 for supplying and installing two advanced robots for tagging process at the wire rod rolling mill in Brescia in Italy. The activities had involved a robotic island in the evacuation area for applying tags to the wire rod rolls. The entire supply included testing, commissioning and remote assistance. This system helps Alfa Acciai to improve the identification and the traceability of materials, as well as reducing human faults. The automation system level 1 acquires the weight of the wire rod rolls before that they reach the robotic island. There, through the support of a 3D vision system, the tags are placed on the feeding lines cradles 1 and 2. A mobile carriage allows the robot to reach both lines from right to left sides. Moreover, to prevent plant downtime, two different backup printers are installed on the site.

On September 27th 2021, Alfa Acciai technical manager has granted the Final Acceptance Certificate to AIC Group, after the results of the successful test, as the accomplishment of the initial requirements.

As already announced earlier, a new robotic island application for Alfa Acciai Group, both for bars and coils, will be provided in Brescia by the end of 2021.

voda 5 november 2021 06:18

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ArcelorMittal Canada to Convert Port Cartier Plant to DRI Pellets

Strategic Research Institute
Published on :
05 Nov, 2021, 4:36 am

At an event held at COP26, ArcelorMittal and the government of Quebec announced a CAD 205 million investment by ArcelorMittal Mining Canada in its Port-Cartier pellet plant, enabling this facility to convert its entire 10 million tonne pellet production to direct reduced iron pellets by the end of 2025. The investment, in which the Quebec government will contribute through an electricity rebate of up to CAD 80 million, will enable the Port-Cartier plant to become one of the world's largest producers of DRI pellets, the raw material feedstock for iron making in a DRI furnace. The project includes the implementation of a flotation system that will enable a significant reduction of silica in the iron ore pellets, facilitating the production of a very high-quality pellet.

The project will deliver a direct annual CO2e reduction of approximately 200,000 tonnes at by ArcelorMittal Mining Canada’s Port-Cartier pellet plant, equivalent to over 20% of the pellet plant's total annual CO2e emissions. This reduction in CO2e emissions will be achieved through a reduction in the energy required during the pelletizing process.

A DRI plant uses natural gas to reduce iron ore, resulting in a significant reduction in CO2 emissions compared with coal-based blast furnace iron making. In Hamburg, Germany, ArcelorMittal is trialling replacing natural gas with hydrogen to make DRI, with its industrial scale pilot project anticipated to be commissioned before the end of 2025. The DRI installations the Company has announced it is developing in Belgium, Canada and Spain are all being constructed to be hydrogen-ready, so as and when green hydrogen is available in sufficient quantities at affordable prices the Company can produce DRI with near zero-carbon emissions.

Approximately 250 jobs are expected to be created during the construction phase of the project in Port-Cartier, which is scheduled to begin in mid-2023 and complete before the end of 2025.

AMMC's pellet plant currently produces 10 million tonnes of pellets annually, of which 7 million tonnes are blast furnace pellets and 3 million tonnes are direct reduced iron pellets.

Bijlage:

voda 5 november 2021 06:21

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Hyundai Steel Reports Strong Growth in Profit in Q3

Strategic Research Institute
Published on :
05 Nov, 2021, 4:38 am

South Korea's second largest steel producer Hyundai Steel announced improved financial results even despite lower operational results in July-September 2021. Hyundai Steel posted a consolidated operating profit of KRW 826 billion (USD 700 million) in Q3, up 52% quarter-on-quarter and compared to an operating profit of KRW 33 billion (USD 28 million) in Q3 2020. At the same time, net profit reached KRW 596 billion (USD 505 million) versus a net loss of KRW 45 billion (USD 38 million) in Q3 last year. The indicator of the company's profitability EBIT/t amounted to USD 154 per tonne compared to USD 5.8 per tonne in Q3 2020 and up by 65% QoQ.

Such a significant improvement is attributed to an increase in selling prices for steel, as well as a recovery in subsidiaries’ performance, along with 'expanding high value-added product and improving special steel profitability

Production volumes were reported at. 4.62 million t. up 2% YoY but down 1% QoQ. Meanwhile, steel sales dropped by 6.4% on the year in July-September, mainly due to seasonal issue and subcontracted workers’ strike.

voda 5 november 2021 06:21

0

GFG Alliance Launches Partnerships to Drive GREENSTEEL Transition

Strategic Research Institute
Published on :
05 Nov, 2021, 4:38 am

Sustainable industry leader GFG Alliance, owner of LIBERTY Steel Group, has announced the launch of a major new three-way policy partnership with thought-leading organisations in the spheres of environment, manufacturing and policy-making. GFG's partnership with Green Alliance, the University of Sheffield Advanced Manufacturing Research Centre and Bright Blue comes during the COP26 summit in Glasgow, where the three organisations will set out thinking on policies required to develop a sustainable future for UK steel and embed investor support for the decarbonisation of steel production. GFG Alliance Executive Chairman Mr Sanjeev Gupta said "The UK steel sector has been under enormous strain in recent years due to competitiveness issues and a lack of investment, yet the chance to show leadership and innovation in GREENSTEEL is now there to be grasped.”

The partnership is being launched with a "Prospectus for GREENSTEEL", in which the three organisations highlight the role that steel making and products made from steel can play in the drive to net-zero, and with a competitive operating environment and the right policy incentives in place.

GFG Alliance, a lead sponsor of the World Climate Summit, has for over a decade led the debate on the need for transition to GREENSTEEL. LIBERTY Steel UK operates electric arc furnaces at its Rotherham site which recycle steel scrap instead of producing steel from coal and iron ore. Electric arc furnaces produce only a tenth of the direct emissions compared with traditional blast furnace operations but are highly electro-intensive. With a rapidly decarbonising energy grid the UK has a significant opportunity to lead the GREENSTEEL transformation by recycling steel with renewable power.

voda 5 november 2021 06:22

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Cleveland-Cliffs Partners with US DoE for Climate Initiative

Strategic Research Institute
Published on :
05 Nov, 2021, 4:38 am

US steel giant Cleveland-Cliffs Inc has entered into a partnership with the US Department of Energy as part of the Better Climate Challenge initiative, a new government-sponsored effort challenging organizations to set ambitious, portfolio-wide GHG emission reduction goals. The initiative provides additional opportunities for peer exchange and technical assistance to meet the urgent call to mitigate the impacts of climate change. As part of the partnership, the DOE will provide technical assistance and opportunities to learn and share actionable best practices for carbon reduction.

Cleveland-Cliffs Chairman, President & CEO Mr Lourenco Goncalves said “Our operations are among the most environmentally friendly of their kind in the world, but we still continue to make improvements to reduce carbon emissions. This includes the use of HBI in blast furnaces, the increased utilization of prime scrap in our BOFs, and with that, the corresponding reduction in coke rate. We appreciate the DOE’s recognition of our accomplishments thus far and look forward to reporting on our continued emissions reduction progress.”

Through the Better Climate Challenge, Cleveland-Cliffs remains committed to reducing greenhouse gas emissions 25% by 2030 from 2017 levels. This goal represents combined Scope 1 (direct) and Scope 2 (indirect) GHG emission reductions on a mass basis across all operations. The Company is also a proud partner of the Better Plants program.

Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. The Company is vertically integrated from mined raw materials and direct reduced iron to primary steelmaking and downstream finishing, stamping, tooling, and tubing.

Vertraagd	20 feb 2025 17:35
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