Eurobench.com

voda 16 juni 2023 08:46

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Hoa Phat Witnesses Steel Production & Sales Fluctuations

In the month of May 2023, Hoa Phat Group, a prominent player in the Vietnamese steel industry, experienced a 27% reduction in crude steel production, amounting to 565,000 metric tons compared to the same period last year. Notably, sales of construction steel, hot rolled coil, and steel billet stood at 530,000 metric tons, reflecting a 20% decrease from May 2022 but a commendable 16% increase compared to April.

Construction steel constituted a significant portion of Hoa Phat's sales in May, reaching 284,000 metric tons. Although this figure marked a 27% decline compared to the corresponding period last year, it demonstrated a promising 33% surge from April 2023. Moreover, the production of hot rolled coil, with 243,000 metric tons, attained its highest volume since the beginning of the year, showcasing a notable 19% increase year-on-year.

Hoa Phat also witnessed growth in downstream products derived from hot rolled coil, such as steel pipes and galvanized steel sheets. Steel pipes recorded a remarkable increase of 12%, amounting to over 57,000 metric tons, while the supply of galvanized steel sheets to both domestic and foreign markets doubled, reaching 34,000 metric tons in May 2023 compared to the same period last year.

During the first five months of the year, Hoa Phat Group's production of crude steel amounted to 2.34 million metric tons, reflecting a substantial 36% decrease year-on-year. Sales of steel products followed a similar trend, with a total of 2.36 million metric tons sold, signifying a 31% decline compared to the same period last year. Among the product categories, construction steel experienced a 33% year-on-year decrease, with sales amounting to 1.36 metric million tons, while hot rolled coil recorded 965,000 tons, indicating a 21% decrease.

With a crude steel capacity of 8.5 million metric tons, Hoa Phat Group holds the largest production capability in Vietnam. The company has also emerged as the first Vietnamese steel company to manufacture hot rolled coil.

voda 16 juni 2023 08:46

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Armenian-American Steel Plant Construction Amidst Azerbaijani Shelling

Amidst the unfortunate backdrop of Azerbaijani shelling, the Armenian-American steel plant construction in the picturesque village of Yeraskh perseveres, resolute in its mission to overcome technical hurdles and forge ahead. Led by the visionary GTB Steel Holding Company, the project has garnered the attention of competent state bodies, poised to navigate the intricacies that lie ahead, reports ARKA

The recent shelling incidents, targeting both construction equipment and diligent workers, bear witness to Azerbaijan's covert agenda - an attempt to impede Armenia's flourishing economic development.

Undeterred by adversity, Tiran Hakobyan, the stalwart at the helm, steadfastly declares his unwavering commitment to the resumption of construction. A beacon of determination, Hakobyan envisions a future where the plant shall yield a bountiful harvest of up to 250,000 metric tons of fittings annually, fortifying Armenia's industrial landscape. This ambitious endeavor stands as a testament to the nation's unwavering resolve, with an ardent expectation that Armenia's armed forces will safeguard the country's territorial integrity and inviolability.

A diverse workforce of 200, including 70 Indian citizens, tirelessly toil on the construction site, their unwavering dedication echoing through the valleys. Despite the recent shelling incidents causing concerns among foreign specialists, their spirits remain unyielding, refusing to abandon their noble endeavor. In constant communication with their embassy in Yerevan, these global citizens stand united, forging bonds that transcend borders and inspire resilience.

The magnitude of this undertaking is reflected in its estimated cost of $70 million, a testament to the magnitude of the venture's ambitions. As the project nears completion, a new dawn awaits, promising employment opportunities for approximately 1,000 individuals. This collective effort shall not only elevate the nation's economic prospects but also exemplify the enduring spirit of Armenian-American collaboration.

In a recent development, members of the EU civil observer mission in Armenia made a notable visit to the construction site of a metallurgical factory in Yeraskh. The factory, which has foreign investments, was subjected to gunfire from Azerbaijan, according to a tweet by RA Deputy Foreign Minister Vahan Kostanyan.

The visit of the EU monitors to the construction zone underscores the importance of international scrutiny in incidents like these. It allows for a thorough examination of the situation and contributes to ensuring accountability and transparency. The aim is to gather comprehensive information and assess the impact of the incident on the ongoing construction efforts.

voda 16 juni 2023 08:47

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Challenges & Pessimistic Outlook for Bulgaria's Steel Industry

Amidst Bulgaria's steel industry's positive growth trends in early 2023, concerns loom large, overshadowing the sector's expectations. Despite a production increase of 10,000 tonnes of crude steel, the absence of growth in end products casts a shadow. Promet, the key player, heavily relies on raw material imports from Ukraine, which were disrupted due to the ongoing war, highlighting the industry's vulnerability, reports BELTA

The challenges faced by Bulgaria's steel industry extend beyond supply chain disruptions. Stifled by the nation's low economic growth rates and the unfair influx of metals from third countries, the industry's future appears uncertain. However, a glimmer of hope emanates from the anticipated implementation of projects under the National Recovery and Resilience Plan, with a focus on renewable energy initiatives and the industry's forthcoming restructuring through the adoption of low-carbon technologies. Additionally, the industry places its faith in European measures aimed at addressing unfair imports.

With the closure of the Kremikovtzi Steel Complex, Bulgaria finds itself with only two remaining steel-producing enterprises: Promet and Stomana Industry. However, their combined production capacities fall short of compensating for the volume previously generated by Kremikovtzi, leaving a void that hampers the nation's steel output potential. While Bulgaria prides itself on producing green steel utilizing scrap, its plants currently operate at a mere 50% capacity. Despite regional demand, most of the production is exported to neighboring Romania and Greece, highlighting the absence of a robust domestic market.

The steel industry's predicament is further exacerbated by the absence of strategic investors willing to inject capital into new capacities. Political instability and a lack of long-term security hinder the attraction of such investments, leaving the industry yearning for stability

Bulgaria's steel production figures align with the European decline, emphasizing the sector's interconnectedness. As Europe navigates its ambitious green targets, a complete overhaul of industry facilities becomes imperative, necessitating a consistent supply of metals. However, Europe's readiness to meet its own targets falters, as imported metals remain crucial despite the pursuit of raw material independence.

Within Bulgaria's steel industry, approximately 1,800 individuals find employment, contributing to the broader ferrous metallurgy sector employing around 4,000 people. While the average wage in the industry falls short of European standards, this disparity echoes across various Bulgarian industries. Despite producing reinforcing iron for construction purposes, the sector boasts an average wage exceeding BGN 2,000, while non-ferrous metallurgy exceeds BGN 2,500.

voda 16 juni 2023 08:47

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SSE Steel Fabrication Expands St. Bernard Facility

Amidst the technological advancements in SSE Steel Fabrication's expansion, their facility in St. Bernard Parish takes center stage. The integration of cutting-edge welding cobots and augmented reality headsets signifies their commitment to innovation, boosting productivity and efficiency. This endeavor also bears fruits in the form of job creation, empowering the skilled workforce and bolstering the local economy.

The welding cobots, with their collaborative prowess, revolutionize the metal fabrication process, seamlessly maneuvering through pre- and post-welding tasks like material handling and inspection. Complementing this revolution, augmented reality headsets introduce a paradigm shift in quality control processes, overlaying virtual mixed reality 3D models onto the tangible environment. By eliminating reliance on traditional blueprints and computer screens, SSE Steel Fabrication attains increased accuracy and reduced production time.

The President of SSE Steel Fabrication, Mindy Nunez Airhart, emphasizes the significance of this investment, positioning the company for growth, improved competitiveness, and effective customer satisfaction. Their allegiance to St. Bernard Parish showcases the advantages of the business-friendly environment and strategic positioning of Louisiana, facilitating access to key markets. Furthermore, the robust support received from the local community bolsters the recruitment of skilled tradesmen, fostering a talented workforce.

The implementation of an augmented reality quality control system, currently in its testing phase, is poised for integration by the end of July. Delivery and full functionality of the welding cobots are anticipated at the commencement of August, marking a milestone in SSE's expansion.

This expansion adds to SSE Steel Fabrication's track record of success since its establishment in the Southeast Region in 1996. By participating in various small business initiatives and obtaining demanding certifications, SSE has cultivated growth and remained competitive. Its Hudson certification grants enhanced access to state procurement and public contract opportunities, solidifying its position in the market.

voda 16 juni 2023 08:47

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Arabian Pipes Company Secures Contract with Aramco for Steel Pipes

Arabian Pipes Company, based in Saudi Arabia, triumphs as it secures a remarkable supply contract with the renowned oil and gas titan Aramco. The contract entails the provision of steel pipes worth approximately SAR 27 million, marking a substantial milestone for both entities. Building upon their strong business relationship, this agreement further solidifies their collaboration in the oil and gas industry.

This contract follows a previous venture inked in March, which amounted to SAR 62 million, showcasing the enduring partnership between Arabian Pipes Company and Aramco. The forthcoming financial impact of this recent contract is anticipated to manifest in the first quarter of 2024, augmenting APC's standing in the market and contributing to its growth trajectory.

voda 16 juni 2023 08:48

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CrossnChain in Blockchain Paves Way for Global Enterprise Expansion

In a monumental stride towards facilitating steady and long-term global expansion for enterprises, the cross-chain interconnection of the blockchain platform has emerged as a game-changer. In a recent development, Baowu's cross-border trade financial service platform, EFFITRADE, and TradeGo have officially inked a platform cooperation agreement, marking a historic milestone as the world's first cross-chain intercommunication between the letter of credit platform and the electronic document platform based on blockchain architecture.

This groundbreaking collaboration aims to empower enterprises with stable and sustainable overseas development, ushering in the era of private and paperless solutions in China's bulk commodity international trade sector.

EFFITRADE, a platform meticulously developed and operated by Ouyeel Financial Services, leverages the blockchain technology provided by a distinguished blockchain service agency. Its primary objective is to deliver cutting-edge information technology services that enable users to engage in fundamental trade and cross-border settlement transactions. On the other hand, TradeGo represents a pioneering bulk commodity blockchain alliance jointly established by esteemed entities such as Sinochem Energy, PetroChina International, Macquarie Commodities and Global Markets, COSCO Shipping Energy Transportation, Bank of China, Saudi Aramco Energy Ventures, China Construction Bank, China Merchants Energy Shipping, Mitsui & Co., Ltd., and Wanxiang Blockchain.

This landmark collaboration between EFFITRADE and TradeGo signifies a remarkable breakthrough in the realm of international trade of bulk commodities. By seamlessly integrating the issuance of letters of credit with the presentation of documents, it offers an innovative and eco-friendly full-process online operation. This momentous achievement not only ensures green and efficient practices but also establishes new benchmarks in the realms of security and sustainability within the cross-border trade financial service platform.

The cross-chain interconnection of the letter of credit platform and the electronic document platform presents an unprecedented opportunity for enterprises to embark on stable and long-term overseas endeavors. By harnessing the power of blockchain technology, this collaboration enables a seamless and secure exchange of vital trade-related information, eliminating the need for cumbersome paperwork and reducing the environmental footprint associated with traditional processes. Moreover, it sets a new standard for efficiency and transparency in the international trade landscape.

voda 16 juni 2023 08:48

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Ceramic Filters Revolutionize Oskol Electrometallurgical Plant's Operations

Oskol Electrometallurgical Plant, renowned as the A. A. Ugarov Plant, is embarking on a transformative journey by introducing state-of-the-art ceramic filters at its pelletizing and metallization site. This groundbreaking initiative involves the installation of 11 vacuum filters with ceramic elements, replacing conventional steam filters with fabric sectors.

Metalloinvest, the driving force behind this project, is investing over 1 billion rubles to facilitate the transition. The Russian scientific and technical center "BAKOR" has been selected as the supplier of the cutting-edge vacuum filters.

According to Kirill Chernov, the Managing Director of OEMK, the site's modernization will unfold in two stages. Six new filters will be installed this year, followed by an additional five by the end of 2026. Chernov explains that this initiative aims to enhance filtration efficiency, significantly reduce electricity consumption in the filtration section, minimize compressed air usage, and completely eliminate the reliance on steam. Apart from resource optimization, the removal of steam will bolster the longevity of metal structures and ensure a safer work environment.

The vacuum filters play a crucial role in dewatering iron ore concentrate, which reaches OEMK via a dedicated pipeline from the Lebedinsky Mining and Processing Plant. The concentrate arrives as a pulp, a blend of concentrate and 50% water.

Compared to their steam filter counterparts with fabric sectors, the new vacuum filters equipped with ceramic elements boast a larger filtration area, resulting in heightened productivity. These innovative filters consume less electricity, require minimal compressed air, and eliminate the need for steam altogether. Furthermore, their longevity surpasses traditional fabric filters by a staggering 18-fold. The ceramic filters operate quietly, and all relevant parameters are conveniently displayed on the control panel, streamlining their maintenance.

voda 16 juni 2023 08:49

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Iran's KSC closes billet tender below price expectations
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Iranian electric arc furnace-route mill Khouzestan Steel Company (KSC), located in the south, was heard finalising its last billet tender at below expected price level.

An optional volume of between 20,000 and 50,000 tonnes of 150mm 3/5sp billet was concluded at $488-490/tonne fob Iran for mid-August readiness. The mill was targeting $495/t fob, which is currently not workable in Iran’s traditional semis markets, Kallanish notes.

On 16 June, the country's sole blast furnace-route steel maker, Esfahan Steel Company (ESCO), will close its August-shipment 150mm 3/5sp billet tender for a 40,000t parcel. Located in the country's centre, ESCO's semis tenders conclude at $5-10/t more than other steelmakers. The mill is heard targeting $495-500/t fob Iran.

"Today, when you examine potential Iranian billet markets, the realistic price for Iranian billet is $485/t fob. Buyers in the Gulf Cooperation Council are mostly booking Saudi billet due to its price advantage. In UAE, Saudi-origin induction furnace-route billet concluded at $495-510/t delivered versus Iranian electric arc furnace-route billet offers at $520-525/t delivered,” opines a reputable trader.

“We cannot compete – after sea freight, port charges and demurrage, an accumulated cost of $35-40/t is added on the fob price of Iranian billet – if billet is more than $485/t fob,” the trader continues. “In the Far East, Chinese billet offers are at $520-530/t cfr Indonesia and $530-540/t cfr Philippines, which is lower than Iranian material if it is at $490-495/t fob."

Due to electricity supply curtailment, some Iranian mills have suspended their production. There is limited semis cargo availability in Iran, which is expected to continue for another few months.

Burak Odabasi Turkey

voda 19 juni 2023 08:54

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Rise Green Steel Premiums Reflects Growing Demand & Viability

According to estimates by the International Energy Agency, the cost of green steel is approximately $300 higher than conventional steel. However, the current premium price range of €200-300 indicates the commercial feasibility of low carbon steel. This development proves that the transition to green steel is not only driven by mandatory climate laws but is also economically viable.

In an inaugural assessment conducted by the Fastmarkets team, the premium for green steel in the European market has been revealed to be €200-300 per tonne in June 2023. Notably, this price range represents a significant increase at the lower end compared to the first quarter of the year, highlighting the growing importance and value placed on green steel in the European market.

The demand for low-emission steels has been consistently rising, indicating a shift in consumer behavior. Initially, the demand for such steels was largely exploratory, with consumers testing different suppliers and materials without being willing to pay an additional premium. However, the situation has evolved, and now premiums are being reported for physical steel that has a maximum of one tonne of CO2 emissions per metric ton of steel.

The findings from Fastmarkets' assessment highlight the recognition of the environmental benefits associated with low-emission steels. As the demand for sustainable and eco-friendly products continues to grow, steel producers are likely to invest further in greener manufacturing processes to meet the evolving market requirements.

As part of the European Green Deal, the European Commission has introduced a new target for the European Union to achieve a minimum 55% reduction in greenhouse gas emissions by 2030, relative to 1990 levels. To accomplish this, the EU has implemented the EU emissions trading system, which will gradually phase out emission allowances for industrial companies starting in 2026. This move will result in significant costs for materials produced with emissions. Consequently, it is projected that by 2030, approximately 30% of the European steel market will consist of green products with either zero or minimal carbon footprints.

The EU ETS operates as a cap-and-trade system, establishing a cap on the total permissible greenhouse gas emissions from sectors such as power generation, manufacturing, and aviation. Companies in these sectors are assigned a limited number of emission allowances that grant them the right to emit a specific quantity of greenhouse gases. Through the gradual elimination of emission allowances, the EU aims to progressively tighten regulations on industrial emissions and encourage the adoption of cleaner and more sustainable practices.

The reduction in emission allowances will lead to a decrease in the availability of free allowances, prompting companies to acquire additional allowances on the market. The prices of these emission allowances are influenced by market dynamics and can fluctuate, potentially resulting in increased costs for companies seeking the necessary permits to emit greenhouse gases. In fact, the prices of ETS permits on the European Union's carbon market have already risen significantly, reaching approximately €100 per metric ton, a six-fold increase compared to less than €15 per metric ton in 2019.
Looking ahead, it is expected that the cost of ETS permits will continue to rise as the phasing out of free allowances reduces their availability. This development underscores the EU's commitment to incentivize industries to transition towards more environmentally friendly practices while also reflecting the increasing value placed on emissions reductions and green initiatives within the steel market.

In response to the global imperative of sustainability and combating the effects of climate change, steel companies worldwide are progressively committing themselves to procure steel with lower carbon footprints. This shift towards eco-friendly steel has gained significant momentum over the past couple of years, with numerous firms setting ambitious targets for incorporating sustainable steel into their supply chains.

Remarkably, over 130 agreements have already been signed, highlighting the growing recognition of the importance of green steel in achieving sustainability goals and reducing environmental impact. Several prominent steel mills, including ArcelorMittal, Baowu, H2GS, HBIS, Klockner, Nucor, Outokumpu, Ovako, Salzgitter, SSAB, Steel Dynamics, Swiss Steel, Tata Steel, Thyssenkrupp, US Steel, and voestalpine, have entered into contracts and pacts to produce low carbon steel. These collaborations demonstrate a collective commitment to sustainability and eco-friendly practices in the steel industry.

This significant development in low carbon steel production throough adoptinf renewable energy to power EAFs, hydrogen DRI plants uunderway and 6-7 start ups , estimated at nearly 150 million metric tons, helps alleviate concerns of potential material shortages in the near future. However, with European steel consumption ranging from 180 to 200 million metric tons annually, a gap of 30 to 50 million metric tons per annum still exists. As a result, steel users are compelled to secure their needs at a higher premium.

CHALYBES netØ The Holy Grail of Green Steel, an ambitious project dedicated to the exploration of green steel, delves into the crucial role played by the steel industry in combatting climate change. By shedding light on the obstacles faced by steelmakers in reducing carbon emissions, this initiative aims to contribute to the global crusade against climate change. Spanning over 3500+ pages, the project is divided into three parts, covering steelmakers, innovative solutions, and organizations supporting steel sector decarbonization. With a planned launch in August-September 2023, CHALYBES netØ The Holy Grail of Green Steel seeks to provide a comprehensive understanding of the evolving market dynamics in the steel industry.

Any inquiries directed to the email address nishith@oreaco.com shall be promptly attended to, with all the necessary details being provided.

voda 19 juni 2023 08:55

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Decarbonizing Steel Industry: Feasible Pathways & Key Insights

The global steel industry plays a vital role in various sectors, but its high CO2 emissions make it crucial for climate change mitigation. A study by Agora Industry and the Wuppertal Institute reveals that achieving net-zero greenhouse gas emissions in the global steel sector by the early 2040s is technically feasible. This can be accomplished through strategic investments in clean technologies like direct reduced iron, a phased coal-out in steel production, and the establishment of an international green iron trade.

The study emphasizes the significance of regulatory frameworks and expanded international cooperation to enable this transformation. By implementing targeted policies and fostering collaboration between governments and industry, the steel sector can transition towards a climate-neutral future. Key levers include increasing material efficiency, boosting scrap-based steelmaking, and accelerating hydrogen-based steel production. Additionally, the utilization of bioenergy with carbon capture and storage could generate significant negative emissions.

The report offers two scenarios for 1.5°C-compatible steelmaking, focusing on different technological pathways. Both scenarios demonstrate technical feasibility but require rapid action from governments and industry. While a phase-out of coal in steelmaking is achievable without premature shutdowns, attention must be paid to potential carbon lock-ins and stranded assets associated with new coal-based steel plants in emerging economies.

International cooperation is essential to shift investments from coal to clean alternatives, with climate finance, de-risking policies, trade agreements, and technology development playing crucial roles. Furthermore, the study highlights the potential of an international green iron trade, which can lower costs and benefit both importers and exporters. By importing green iron instead of hydrogen, countries with high renewable hydrogen costs can enhance the competitiveness of low-carbon steelmaking and protect local jobs in the steel industry.

A comprehensive policy framework across the entire value chain is necessary to facilitate the steel sector's transformation. This includes planning and financing clean energy and raw materials, establishing sustainability criteria for hydrogen and biomass, and incentivizing climate-friendly production processes. Governments can support these efforts through financing instruments, innovation funding, carbon pricing, and green procurement practices.

By taking decisive action based on the study's insights, the global steel industry can overcome challenges, avoid carbon lock-ins, and contribute to raising global climate ambition. The transition to a net-zero steel sector requires collaboration, innovation, and a commitment to sustainable practices, paving the way for a resilient and low-carbon future.

voda 19 juni 2023 08:56

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BHP Advances Green Steel Production with Electric Smelting Furnace

In a significant move towards sustainable steel production, BHP, one of the world's largest mining companies, has announced a collaboration with leading global engineering firm Hatch to design an Electric Smelting Furnace pilot plant. The primary objective of this innovative project is to showcase a pathway for reducing carbon dioxide emissions in steel production using iron ore from BHP's Western Australia Iron Ore mining operations. The ESF pilot plant will play a crucial role in optimizing and de-risking the technology, allowing BHP's customers to consider its full-scale deployment in the near future.

The steelmaking industry is facing increasing pressure to reduce its environmental impact and transition towards sustainable practices. Currently, four primary process routes have been identified: Modified Blast Furnace with carbon capture, Direct Reduced Iron with Electric Smelting Furnace, Direct Reduced Iron with Electric Arc Furnace, and Electrochemical reduction by electrolysis. Recognizing the need for extensive development in all these routes, BHP aims to pursue pathways for each process route to ensure a comprehensive approach to decarbonization.

The ESF represents a promising alternative to traditional steelmaking processes. While the Electric Arc Furnace is the prevailing electric furnace design for consuming Direct Reduced Iron, BHP has been exploring the ESF as an alternative furnace design that offers superior performance and feedstock flexibility compared to the EAF. Extensive research has been conducted to determine the ESF's suitability for further development, and now, in collaboration with Hatch, BHP has commenced a design study for an ESF pilot plant.

The ESF has gained recent recognition and has been selected for development by major steelmakers such as Tata Steel Europe, ThyssenKrupp, voestalpine, BlueScope, and POSCO. What sets the ESF apart is its ability to process various grades and physical shapes of DRI. This widens the envelope of suitable iron ore feedstocks and includes medium-grade ores from BHP's WAIO operations, which exist naturally as lump and fines but can also be pelletized and briquetted. Importantly, the metal produced by the ESF is suitable for refining into a full range of finished steels, similar to those produced through the traditional Blast Furnace route.

While both the EAF and ESF involve the generation of heat through electricity passed between electrodes, the processes occurring inside these furnaces differ significantly. The ESF is purpose-built to process DRI and operates continuously under reducing conditions. Small amounts of carbon are added inside the sealed furnace to maintain the desired environment for iron reduction. DRI is continuously fed into the furnace, creating a layer of gradually reducing and melting solid material. Unlike the EAF, the ESF allows for controlled slag chemistry that resembles Blast Furnace slag, which offers upstream synergies and relaxes the stringent quality thresholds of DRI in the EAF process.

The ESF's unique capabilities make it a promising candidate for a flexible and cost-effective steelmaking process. By collaborating with Hatch to design an ESF pilot plant, BHP aims to optimize and de-risk the technology, ensuring its readiness for broader adoption. The pilot plant will allow for comprehensive testing, data collection, and process optimization, paving the way for future full-scale ESF deployment in steel production.

The ESF's unique capabilities make it a promising candidate for a flexible and cost-effective steelmaking process

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voda 19 juni 2023 08:56

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Finkernagel & EJOT to Cut Environmental Impact with XCarb® Steel

The cooperation between ArcelorMittal, Finkernagel, and EJOT represents a pioneering initiative that unites manufacturers, processors, and end product manufacturers in their commitment to reducing environmental impacts. By leveraging the exceptional properties of XCarb® steel, which is produced from recycled and renewable materials, the collaboration aims to significantly lower the carbon footprint associated with conventional steel production.

The process begins at ArcelorMittal Hamburg, where high-grade CO2 reduced XCarb® steel is manufactured, boasting an impressive 80% reduction in CO2 emissions compared to traditional steel. The Finkernagel wire mill then processes this steel, while EJOT transforms it into screws for electric car batteries and fastening solar panels. The use of XCarb® steel throughout this value chain contributes to the overall goal of advancing the energy transition.

Dr. Uwe Braun, CEO of ArcelorMittal Hamburg, emphasizes the importance of this collaboration in achieving climate targets and constructing the infrastructure necessary for carbon neutrality. He recognizes that low-carbon steel is indispensable for realizing projects such as solar modules, electric vehicles, and wind turbines. With ongoing cooperation, he envisions the ability to produce increasingly low-carbon and climate-neutral steel.

Timo Finkernagel, Managing Director of Finkernagel, affirms that XCarb® steel demonstrates excellent processability without any quality disadvantages compared to conventional steel. The identical material properties make it an attractive option for customers, and Finkernagel is proud to offer the market a recycled and renewable alternative.

Markus Rathmann, Chief Supply Chain Officer of the EJOT Group, highlights this collaboration as a crucial step towards climate neutrality, particularly regarding Scope 3 emissions. By gradually expanding their utilization of CO2 reduced steel, the EJOT Group aims to reduce their CO2 emissions to zero by 2035.

This groundbreaking cooperation was announced publicly at Finkernagel's headquarters in Altena, showcasing the commitment of all three companies to sustainable manufacturing. ArcelorMittal's ongoing efforts in climate-neutral steel production, coupled with the adoption of XCarb® steel by Finkernagel and EJOT, exemplify their dedication to reducing environmental impact and working towards a net-zero emissions future by 2050.

voda 19 juni 2023 08:57

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ArcelorMittal Luxembourg to Invest in New Electric Arc Furnace

ArcelorMittal has announced its commitment to decarbonization through the investment in a new electric arc furnace at its Belval site. This strategic move is part of a series of projects outlined in a memorandum of understanding signed between ArcelorMittal Luxembourg and the Ministry of the Economy in September last year. The Luxembourg government is actively supporting this investment with subsidies totaling approximately 15 million euros, highlighting its commitment to advancing sustainable and low-carbon steel production.

The new electric arc furnace at the Belval site is a key project resulting from the MoU. Its implementation will not only improve energy efficiency but also boost steel production capacity in Luxembourg by nearly 15%, reaching an annual output of 2.5 million metric tons of steel. By replacing the existing EAF, which has been operational since 1997, and investing in other areas of the Belval steel plant, ArcelorMittal Luxembourg aims to achieve self-sufficiency in crude steel production to meet the demand for finished rolled products within the Grand Duchy. This includes supplying the ArcelorMittal Rodange site's Mill A exclusively with steel produced by the new EAF, supporting the production of a wide range of rails and niche products.

The use of electric furnaces in steel production provides multiple advantages, including the ability to utilize recycled scrap and operate with renewable energy sources. Compared to conventional steel production methods involving blast furnaces, electric furnaces can reduce CO2 emissions by a factor of six. This environmentally friendly approach aligns with the circular economy principles and contributes to the overall sustainability of the steel industry.

Construction of the new electric furnace in Belval is scheduled to commence this year, with commissioning expected in 2025.

The CEO of ArcelorMittal Europe, Mr. Geert van Poelvoorde, expressed enthusiasm for the project, highlighting its significance as the first concrete manifestation of the MoU signed with the Luxembourg government. He emphasized that this investment signifies a major step forward in ArcelorMittal's decarbonization strategy and acknowledges the strong support from the Luxembourg government.

Mr. Sanjay Samaddar, CEO of ArcelorMittal Europe Long Products, emphasized the role of government support in facilitating the modernization of installations, improving operational energy efficiency, and reducing carbon footprints. He underscored the Group's commitment to investing in the future of the Luxembourg steel industry, which possesses unique expertise in high-value-added products.

Mr. Pierre Jacobs, CEO of ArcelorMittal Luxembourg Long Products, welcomed the news of the new electric arc furnace and its positive impact on steelmaking operations in Luxembourg. While acknowledging the challenge of meeting the facility's operational deadline, he expressed confidence in the company's capabilities and motivated teams to successfully overcome it.

ArcelorMittal last week designated SARRALLE as the partner of choice for the much-anticipated modernization of its Steel Plant located at the prestigious Belval facilities in Luxembourg. The extensive order encompasses a range of critical services, including engineering and supply, installation, commissioning support, and process automation. Notable components of the upgrade project include the installation of a groundbreaking 155-tonne DC Electric Arc Furnace, the revamping of the Fumes Exhaust System through SARRALLE Bluesky-Plant, the upgrade of the Material Handling System, the implementation of a new 145-tonne Vacuum Degasser, the enhancement of the 6-strand Continuous Casting Machine, and the upgrade of the Water Treatment Plant to accommodate the new requirements.

The novel Electric Arc Furnace will encompass SARRALLE's cutting-edge safety technologies, including Automatic Slag Door, EBT Sand Feeding, EBT emergency opening device, and EBT cleaning, ensuring optimal operational safety and efficiency.

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voda 19 juni 2023 08:58

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Saarstahl & Dillinger's Pure Steel+ Honored with German Brand Award

Saarstahl and Dillinger have received the highly esteemed German Brand Award for their collaborative initiative, Pure Steel+. The project, aimed at achieving climate-friendly production of high-quality steel, was honored as the "Best of Best" in the "Brand Innovation of the Year" category. The award, presented by the German Design Council and the German Brand Institute, recognizes the outstanding brand management strategy adopted by the companies. Additionally, the Pure Steel+ brand was designated as a "Winner" in the Brand Design category.

The award ceremony took place in Berlin on June 15, 2023, and was attended by SHS – Stahl-Holding-Saar, the parent company of Saarstahl and Dillinger, along with the HDW – Neue Kommunikation agency, which played a vital role in developing the brand.

The jury lauded the new brand for its contemporary, robust, and self-assured appearance. The clear and compact logo, featuring a distinctive plus sign, ensures strong brand recognition. The transformation toward green steel production is a complex and lengthy process, but the initial steps have been taken. The positive mindset and commitment to sustainability are effectively conveyed through the overall design of the Pure Steel+ brand.

Dr. Karl-Ulrich Köhler, Chairman of the Board of Management, expressed his delight at Pure Steel+'s success in winning two of Germany's most prestigious brand awards. He described the recognition as confirmation of the companies' efforts and a source of confidence to embark on further significant steps towards achieving "green" steel. Dr. Köhler acknowledged the invaluable collaboration with the HDW agency and expressed gratitude to all employees involved in advancing the Pure Steel+ project.

Pure Steel+ represents the dedication to high-quality steel and its role in driving the energy and mobility transition. The brand symbolizes the commitment and efforts of the employees who are instrumental in realizing the transformation process. The carbon-reduced steel produced as part of this initiative is marked with the plus sign, which serves as a recognizable indicator of the added value of the companies' steel innovations.

Saarstahl and Dillingers' commitment to environmental and climate protection is a key aspect of Pure Steel+. They have already invested over EUR 700 million in recent years, with approximately 10% of their capital expenditure dedicated to environmental measures and energy efficiency. Further investments of around EUR 3.5 billion are planned, subject to public funding, to facilitate the transition to climate-friendly steel production. The ultimate goal is to achieve carbon-neutrality by 2045.

voda 19 juni 2023 08:59

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Fives & Hydro Produce Carbon-Free Aluminium Using Hydrogen

In a groundbreaking collaboration, industry leaders Fives and Hydro have made significant strides in tackling carbon emissions in the aluminium sector. Hydro, with the expertise of Fives, has successfully produced the world's first batch of recycled aluminium using hydrogen on an industrial scale. This achievement was made possible through a successful test conducted at the Hydro Extrusion plant in Navarra, Spain, demonstrating the potential for completely carbon-free aluminium production.

Hydrogen, particularly green hydrogen, has emerged as one of the most promising solutions for addressing the environmental challenges posed by heavily polluting industries like aluminium production. The test conducted at the Hydro Extrusion plant marks the world's first industrial-scale application of hydrogen in aluminium recycling. By replacing natural gas with green hydrogen, the test represents a significant step towards decarbonizing the aluminium industry.

Stephan Paech, CEO at Fives North American Combustion Inc., expressed enthusiasm about the collaboration, stating, "As a pioneer of the decarbonization of industry, Fives has been at the forefront of hydrogen for decades. We are excited to work with Hydro on this common ambition to produce carbon-free aluminum through more than 100 years of expertise in industrial combustion and a large range of state-of-the-art burners, combustion systems, and digital tools."

The successful test serves as a platform for developing commercial fuel-switch solutions and demonstrating the viability of hydrogen in aluminium production. Green hydrogen has the potential to eliminate hard-to-abate emissions from fossil fuels in industries where electricity is not a feasible alternative. This extends beyond aluminium to other high-heat processes in industries such as glass and cement manufacturing.

Fives, with its extensive expertise in combustion and the largest range of hydrogen-compatible burners in the market, was the ideal partner for Hydro in this ambitious project. To conduct the test, Fives upgraded the existing high-efficiency North American TwinBed™ II combustion system and provided the necessary infrastructure, including the hydrogen and natural gas mixing station, controls, and safety measures. Additionally, Fives conducted computational fluid dynamic (CFD) analysis and implemented a data acquisition solution to monitor the performance of the combustion system.

The aluminium produced during the test will be utilized in the mass production of recycled aluminium from Hydro Extrusion Navarra. These aluminium billets, fueled by hydrogen, will be used for the manufacturing of extruded products like car parts and window frames, marking another significant milestone in the utilization of hydrogen in various industries.

A comprehensive report on the test's findings is expected to be available in the fall, providing valuable insights for further advancements in carbon-free aluminium production and the adoption of hydrogen as an alternative fuel in heavy industries. The collaboration between Fives and Hydro exemplifies the potential of combining expertise, innovation, and sustainable practices to drive positive change in the global industrial landscape.

voda 19 juni 2023 08:59

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SSAB Issues Sustainability-Linked Bonds to Support Green Transition

SSAB, a prominent player in the steel industry, has announced the successful issuance of two five-year senior unsecured sustainability-linked bonds. The total value of the bonds amounts to €183 million, issued under the company's €2 billion EMTN (Euro Medium Term Note) programme established on May 12, 2023.

The new bonds, set to mature in June 2028, offer a coupon rate of 3m Stibor +170 basis points for the floating rate notes (€51 million) and 4.875% for the fixed-rate notes (€128 million). The bond issuance received significant interest from investors, resulting in oversubscription. The funds raised will be utilized for general corporate purposes.

SSAB has positioned itself as a pioneer in driving the green transition of the steel industry, aiming to achieve a substantial reduction in carbon dioxide emissions from its own operations by approximately 2030. The launch of the sustainability-linked bonds aligns with SSAB's sustainability goals and further supports its strategic vision.

Leena Craelius, the CFO at SSAB, expressed her satisfaction with the strong investor interest and confidence in the bond issuance. She highlighted the support received for SSAB's transformation efforts towards fossil-free steelmaking. This positive response from investors reflects the industry's recognition of the importance of sustainable practices and SSAB's commitment to leading the way.

In addition to the bond issuance, SSAB conducted a buyback of €75 million of its outstanding SEK bonds due on June 26, 2024. This move demonstrates SSAB's proactive approach to managing its debt and optimizing its financial position while reinforcing its commitment to sustainable finance.

voda 19 juni 2023 08:59

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Government to Seek Financial Bids for NMDC Steel Privatization

Officials have revealed that the government is planning to initiate the privatization process for NMDC Steel once the blast furnace at its steel plant in Chhattisgarh becomes operational, reports PTI. The commissioning of the blast furnace is expected to increase the company's value, making it an attractive investment opportunity.

NMDC Steel, a subsidiary of NMDC, India's largest iron ore producer, has a projected annual production capacity of 3 million tonnes. The government currently holds a 60.79% stake in NMDC Steel, while the remaining 39.21% is owned by the public
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The government aims to sell 50.79% of its shareholding in NMDC Steel, along with management control, as part of the privatization process. Preliminary bids and expressions of interest for the company have already been received. However, financial bids will only be invited after the blast furnace becomes operational, providing investors with confidence in the company's actual capacity.

NMDC Steel was listed on the stock exchanges in February this year and is currently trading at approximately ?44 per share, compared to its initial listing price of ?30.25. The sale of a 50.79% stake at the current market price would generate around ?6,500 crore for the government. The privatization process is expected to be completed within the current fiscal year, contributing to the government's disinvestment target of 51,000 crore.

voda 19 juni 2023 09:00

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Tragic Workplace Fatality at Algoma Steel Prompts Investigation & Condolences

Canadian flat steelmaker Algoma Steel has reported a tragic incident that occurred at their facility, resulting in the loss of an employee from a contracting company. The worker lost consciousness while performing specialized maintenance work on an out-of-service gas line. Immediate response and medical assistance were provided by Algoma Steel Emergency Services personnel, Sault Ste. Marie Fire, and Paramedic Services. Unfortunately, despite their efforts, the worker passed away after being transported to Sault Area Hospital. The Ministry of Labour has been notified and is currently conducting an investigation to determine the cause of the incident.

Algoma Steel CEO Michael D. Garcia expressed heartfelt condolences to the family, friends, and colleagues affected by the devastating loss. He emphasized that safety is a top priority and core value at Algoma Steel, and the company is grateful for the swift response and assistance provided by emergency services personnel and on-site team members. Counselling services have been made available to Algoma employees and the contractor's employees who may have been impacted by the incident.

Sault Ste. Marie Mayor Matthew Shoemaker offered his thoughts, prayers, and condolences to the family of the fallen contract worker. He acknowledged the tragic nature of the incident and expressed hope that the family receives the necessary support and comfort during this difficult time. Similarly, Sault Ste. Marie MPP Ross Romano extended his sympathies to the family and all workers at Algoma Steel, calling the situation extremely concerning.

The Ministry of Labour has confirmed that the worker was an employee of GFL Environmental Inc. However, details surrounding the incident remain scarce, and the investigation is ongoing. Mike Da Prat, the president of United Steelworkers Local 2251, expressed devastation over the incident and highlighted the union's ongoing efforts to prioritize health and safety at the plant.

Algoma Steel has consistently emphasized their commitment to health and safety, aiming for zero workplace injuries. The company's president and CEO, Michael Garcia, previously stated that safety is a non-negotiable value at Algoma. As the investigation progresses, more information is expected to be provided.

voda 19 juni 2023 09:02

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EC Maintains AD Duty on Graphite Electrodes from India

The European Commission has made its final decision regarding the third anti-dumping and countervailing duty sunset review on specific graphite electrode systems originating in India. The commission's ruling states that the termination of the AD and CVD measures would lead to a significant surge in dumped and subsidized imports from India, posing a continued threat of material injury to the European Union's industry.

The products subjected to investigation fall under the CN codes ex 8545 11 00 and ex 8545 90 90, with corresponding TARIC codes 8545 11 00 10 and 8545 90 90 10. The investigation period spanned from January 1, 2021, to December 31, 2021, while the assessment of injury covered the period from January 1, 2018, until the end of the review investigation period.

The European Commission's determination highlights the potential risks associated with lifting the anti-dumping and countervailing duty measures on graphite electrode systems from India. The commission has concluded that the expiration of these measures would likely result in a surge of dumped and subsidized imports from India, endangering the EU industry and leading to the recurrence of material injury.

Bijlage:

voda 19 juni 2023 09:02

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POSCO Advances Workplace Safety with Robotics for Steel Plants

POSCO Group's think tank, the POSCO Research Institute, has signed an agreement with Withrobot and Aidin Robotics to jointly conduct research and development on robots used for safety management in steel mills and other workplace environments, reports KED Global. Withrobot, founded by former Ph.D. robotics students, brings innovative technologies such as edge boards and optimized AI networks. Aidin Robotics, established by experts in the field, focuses on developing quadrupedal walking robots.

The collaboration between POSCO and Withrobot aims to develop smart wire robots that utilize video, sound, thermal infrared, and Lidar sensors to monitor accidents in manufacturing sites. These robots move along wire paths on the ceiling, ensuring comprehensive safety management. Meanwhile, the partnership with Aidin Robotics focuses on quadrupedal walking robots capable of accessing areas that are difficult for humans to inspect due to hazardous conditions like high temperatures.

POSCO DX, the IT services subsidiary of POSCO Group, plans to venture into the robotic automation solution business by 2025. The company is actively enhancing its robot capabilities in core areas such as steel production and electric vehicle battery materials. With the goal of improving workplace safety and productivity, POSCO DX aims to lead the expansion of robots across various industries through collaboration with group companies.

POSCO Group has already implemented robotics solutions in its affiliated plants, including steel mills and cathode factories. Robots have taken over dangerous tasks previously performed by employees, such as removing dross from the zinc plating process and cutting cold-rolled steel plates. The company also utilizes automated guided vehicles in its logistics sector for efficient material handling.

POSCO E&C, the group's construction unit, is also adopting robots for safety checks, welding, and construction automation, which is a rare practice in the local industry. The conglomerate's holistic approach to incorporating robotics aims to raise workplace safety standards and drive overall productivity.

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