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voda 6 februari 2023 07:24

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Rebar Fabricating Robotics Firm Toggle Secures More Funds

Strategic Research Institute
Published on :
6 Feb, 2023, 6:01 am

Tech Crunch reported that New York based robot maker Toggle has added another USD 3 million to its coffers as part of a Series A Extension. In addition to hiring, the new funds will be used to ramp up its robotic production. Toggle CEO Mr Daniel Blank told TechCrunch “With a renewed interest in American manufacturing and production capacity and the investments pouring into infrastructure and renewable energy in particular but also batteries and microchips manufacturing, we have been successful at navigating the difficulties whether due to our category, a slowing economy or the pandemic. In this round, adding strategic investors, we’ve demonstrated that the problem of labor cost, availability and speed is really at the forefront for construction firms and they are going directly to the tech startups rather than through VCs to access solutions.

The initial USD 8 million Series A was announced back in 2021. Japanese firm Tokyo Construction is a first-time investor in the startup, whose total raise is currently at USD 15 million.

Toggle makes robots that bend rebar, the steel skeletal reinforcement you find in all manner of heavy construction. The company’s headcount is currently at 40, which the company plans to double over the course of the next year, following an upcoming Series B raise. Those roles will primarily be focused on engineering and operations.

voda 6 februari 2023 07:25

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Mr Georges Rassel Joins Paul Wurth’s Board of Directors

Strategic Research Institute
Published on :
6 Feb, 2023, 6:02 am

Luxembourg-based engineering company Paul Wurth has announced that M Georges Rassel has joined the company’s board of directors. Mr Georges will give special focus on further developing Paul Wurth subsidiaries, such as Paul Wurth Geprolux and CTI Systems, and will drive Paul Wurth’s E-Fuel initiatives and projects, including the cooperation with the Paul Wurth chair at the University of Luxembourg.

Mr Georges Rassel’s extensive background in the industry, his track record of leading successful projects and his long history with the company makes him a valuable addition to Paul Wurth’s board. The company is confident that his involvement will help drive Paul Wurth’s continued growth and success, with a focus on sustainable innovation and decarbonization.

Mr Georges Rassel has been with Paul Wurth as the global leader in iron making technology since 1988, when he graduated as Civil Engineer. After working as an engineer in the “Bridges and Structures – General Contracting” department, he pursued his career in the metallurgy department. After joining Paul Wurth’s management team as COO in 2011, Mr Rassel took over as CEO in 2015 and has led the company towards becoming the leading partner for the decarbonization of iron making plants. At the same time, he has orchestrated the successful integration of Paul Wurth into the SMS group, which started in 2012.

voda 6 februari 2023 07:25

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Severstal Approves Sustainability Strategy to 2030

Strategic Research Institute
Published on :
6 Feb, 2023, 6:02 am

The Board of Directors of Severstal has approved the Company’s sustainability strategy to 2030, titled “Together towards sustainable metallurgy of the future”. The document expands the list of the Company’s public goals on environmental protection, occupational health and safety, regional development and personnel training. In accordance with best global practices, the sustainability strategy will be reviewed and supplemented annually based on the needs of the Company’s stakeholders.

Severstal continues to carry out environmental and social activities as well as health and safety measures to ensure zero fatalities among its employees and contractors. The Company also reaffirms its previously announced targets to reduce its greenhouse gas emissions intensity by 10% compared to the 2020 baseline by 2030 and to reduce pollutant emissions by 13% compared to the 2017 baseline by 2025. Severstal is also undertaking new commitments, including a target to increase the share of waste recycled to 98.5% by 2030 compared to the 2019 baseline.

For each goal, an action plan is developed and cascaded to every department and division within the Company. The strategy also calls for the expansion of the list of management’s sustainability-related key performance indicators; this list already includes KPIs for reducing the Company’s climate impact and ensuring occupational health and safety.

voda 6 februari 2023 07:26

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Hoa Phat Positive on Receiving Steel Export Orders in January

Strategic Research Institute
Published on :
6 Feb, 2023, 6:03 am

Vietnam’s leading steelmaker Hoa Phat's steel exports have received a positive signal at the beginning of 2023 as it received many export orders from the USA, Canada, Mexico, Puerto Rico, Australia, Malaysia, Hong Kong, Cambodia and many others. With the expansion of Hoa Phat's export market, the company now serves customers on 5 continents. The

The export order to the Americas is Grade 60 rebar, a type of reinforced concrete commonly used in construction, manufactured according to American standards ASTM A615/A615M-14. The goods will be exported from Hoa Phat Dung Quat and Hoa Phat Hai Duong Steel Integrated Complex in January 2023.

In addition, Hoa Phat is expected to deliver the first shipment of rolled steel to the Belgian market in February.

In 2022, Hoa Phat supplied the market with 7.2 million tonnes of steel. In which, export output contributed nearly 1.2 million tonnes, up 15% compared to 2021. The long steel of Hoa Phat has been exported to more than 30 countries and territories around the world. These include the United States, Canada, Singapore, Hong Kong, Korea and the Caribbean.

voda 6 februari 2023 07:27

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ArcelorMittal Germany Bottrop Coke Oven Gas Pipeline Restored

Strategic Research Institute
Published on :
6 Feb, 2023, 6:03 am

ArcelorMittal Germany has announced that the gas pipeline for the Bottrop coking plant, which had been renovated for more than a year, is back in operation. Altogether the extensive renovation took 14 months after a thermal renovation was completed several kilometers behind the coking plant in November 2021 and physical overload. The pipeline was initially taken out of service. The resulting surplus coke oven gas could not be passed on to industrial customers and had to be flared.

Due to its high hydrogen content of up to 60%, the resulting gas contributes as a bridging technology to make the products of processing companies CO2-neutral in the future. The gas is produced as a by-product of the coking process. The Bottrop coking plant needs the pipeline of the KGNR to supply the gas to various customers in the region.

The repair of the 7.5 kilometer long gas pipeline between Bottrop, Sturmshof and Gelsenkirchen, Nordstern Park, was a Mammoth project. In addition to the pipeline owner Kokereigasnetz Ruhrm, Uniper was involved. the operator of Pipeline Open Grid Europe, ArcelorMittal, three licensing authorities, the Emschergenossenschaft, the TÜV, various construction companies and the cities of Bottrop, Essen and Gelsenkirchen.

The initial 40 excavations were turned into ultimately 73. To make matters worse, the line is partly four meters underground in the Emscherdeich. Because of the strict conditions for flood protection, and several suspected bomb points were sounded out.

Bijlage:

voda 6 februari 2023 07:28

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Government Supports Thyssenkrupp Melting Unit for Green Steel

Strategic Research Institute
Published on :
6 Feb, 2023, 6:04 am

North Rhine-Westphalia is continuing to push ahead with the transformation of the German steel industry towards carbon neutrality. During a visit to Duisburg with the Swedish ambassador Mr Per Thöresson, Germany’s State Minister for Economics, Industry, Climate Protection & Energy Ms Mona Neubaur have handed over a funding decision worth 6.2 million euros for a cooperation project between the steel group thyssenkrupp Steel Europe AG and the Düsseldorf VDEh Institute for Applied Research BFI.

The aim of the project, which is under the scientific leadership of BFI, is to demonstrate how sponge iron produced in direct reduction plants can be liquefied in an innovative melter unit and further processed into hot metal or steel. Direct reduction plants can be operated with green hydrogen and, in combination with a melter, offer the potential for carbon-neutral steelmaking.

The melter, which is being funded by the state of North Rhine-Westphalia, is part of a comprehensive carbon-neutral transformation strategy at thyssenkrupp in Duisburg at Europe's biggest steel location.

voda 6 februari 2023 07:30

0

Vietnam’s Steel Makers Profits Shrink in Oct-Dec Quarter

Strategic Research Institute
Published on :
6 Feb, 2023, 6:04 am

Vietnam’s steelmaker's Hoa Phat, Hoa Sen, Nam Kim, VNSteel, and Tisco have incurred heavy losses in October-December quarter of 2002. As per media reports, the six industry giants have now seen losses of more than VND3.9 trillion (USD 152 million) in the last quarter of 2022.

Hoa Phat Group - (VND2 trillion (USD 85 million)

Hoa Sen Group – VND 680 billion (USD 29 million)

VNSteel – VND 567 billion (24 million)

Pomina Steel – VND 460 million (USD 20 million

Nam Kim - VND356 billion (USD 15 million)

Tisco – VND 17 billion (USD 724,000)

Vietnam’s steel market was generally gloomy last year. For Vietnam’s steel industry, 2022 was a challenging year with falling consumption and complicated developments in material costs. Many businesses encountered difficulties and suffered losses The Vietnam Steel Association reported that production fell by 12% for the year to 29.3 million tons, and demand by 7% to 27.3 million tonnes.

voda 6 februari 2023 07:31

0

Benteler Terminates Shreveport Pipe Plant Sale to Tenaris

Strategic Research Institute
Published on :
6 Feb, 2023, 6:05 am

Tenaris has announced that Benteler North America Corporation has exercised its right to unilaterally terminate, effective immediately, the previously-announced agreement for the sale to Tenaris of 100% of the shares of US steel pipe producer Benteler Steel & Tube Manufacturing Corporation.

Tenaris had entered into a definitive agreement in July 2022 to acquire from Benteler North America Corporation, a Benteler group company, 100% of the shares of Benteler Steel & Tube Manufacturing Corporation for an aggregate price of USD 460 million, on a cash-free, debt-free basis.

Benteler Steel & Tube Manufacturing Corporation is a Us producer of seamless steel pipe, with an annual pipe rolling capacity of up to 400,000 tonnes at its production facility located in Shreveport in Louisiana.

voda 6 februari 2023 07:31

0

Congress MP urges to Drop RINL VSP Planned Sale to Adani

Strategic Research Institute
Published on :
6 Feb, 2023, 6:05 am

Deccan Chronicle has reported that former Congress MP Mr V Hanumantha Rao said that the government should drop its idea of selling the Vizag Steel Plant to the Adani Group. He demanded “The BJP government has already handed over ports, coal mines and steel plants. We shall strongly resist any move to sell the Vizag Steel Plant. It is high time that the government conducts a judicial inquiry into the allegations made against Adani and his businesses across the globe.”

Mr Hanumantha Rao claimed that thousands of crores were written off when big business groups defaulted on their loans, and asked why those who deserved the loan waiver were made to suffer hardships.

voda 6 februari 2023 07:32

0

EU Sanctions Are Powerless to Deter Putin - Mr Ryzhenkov

Strategic Research Institute
Published on :
6 Feb, 2023, 6:06 am

Metinvest Group’ CEO Mr Yuriy Ryzhenkov in an interview with The Telegraph while speaking Western sanctions against Russia said “Many sanctions have a delayed effect. Many sanctions start working only after a few months, if not years. Therefore, it is currently difficult to assess the absolute effectiveness or effectiveness of the sanctions policy. Some sanctions, in my opinion, do not work properly, for example, sanctions on the import of steel semi-finished products to Europe. There is not even a loophole, but a quota for Russians for the next two years for the supply of semi-finished products, for example, from steel, without any restrictions. And this quota is approximately equal to the average volume of supplies of Russian semi-finished products to the EU over the past five years.”

Mr Ryzhenkov added “So, basically, it doesn't even stop anything. In the UK, the situation is different. However, it may be the result of Metinvest being the main buyer of steel slabs in the country. And, of course, we do not buy Russian. However, in Europe there is a demand for a large amount of rollover. Many companies engaged in the processing of semi-finished products into finished products are imported from Russia. The main importing countries are Belgium and Italy. We are talking about millions of tons per year. Actually, they punish producers who refuse to work with Russia. Honest producers who refuse to buy from Russia are put at a disadvantageous competitive position. This also applies to Metinvest, as we have a plant in Newcastle and two factories in Italy.”

voda 6 februari 2023 07:32

0

SAIL Records Best Ever Monthly Production in January 2023

Strategic Research Institute
Published on :
6 Feb, 2023, 6:06 am

Steel Authority of India Limited has recorded the best ever monthly production in January 2023. Crude Steel production of 1.72 million tonne during January 2023 is the best ever monthly performance registering an impressive growth over the previous best achieved in March 2022.

SAIL also achieved the best ever monthly production of hot metal and saleable steel at 1.8 million tonne and 1.61 million tonne during this month, registering growth over the previous best recorded in March 2022.

voda 6 februari 2023 07:33

0

Europe’s Steel Demand to Contract also in 2023 - EUROFER

Strategic Research Institute
Published on :
6 Feb, 2023, 6:07 am

European Steel Association EUROFER announced that all downside factors that have materialized in the first half of last year have persisted, continuing to impact the European steel market and apparent steel consumption is forecast to see a deeper than expected drop of 4.6% for 2022, previously set at minus 3.5%. EUROFER said “The outlook for 2023 also remains negative at 1.6%, paving the way for the fourth steel demand recession in five years. A modest recovery will be in sight in 2024 at 1.6%, though subject to high uncertainty. Despite a more general resilience of the EU economy, in the third quarter of 2022 apparent steel consumption reached its lowest level after the pandemic.”

EUROFER Director General Mr Axel Eggert said “We are witnessing what we have been warning against in the past months: energy crisis, inflation, supply chain issues, unparalleled decarbonization costs combined with massive cheap imports from third countries, are a toxic cocktail for industry. The health of the steel sector is the litmus test for the whole EU industry. This should ring the alarm bell for the development prospects of Europe’s clean tech economy: for it to be successful, its foundations must lay on and boost EU green steel demand. The US has already addressed this, as the Inflation Reduction Act clearly shows.”

In the third quarter of 2022, EU’s apparent steel consumption plummeted again by 11.2%, recording the lowest volume of 32.2 million tonnes since the pandemic. In parallel with sluggish demand, domestic deliveries collapsed as well by 10.5% for the third consecutive quarter. So did imports, recording a sharp decrease of minus17.2%reverting for the first time the expansionary trend which was uninterrupted since 2021.

A stronger-than-expected resilience of steel-using sectors has allowed for the continuation of a steady growth trend at 4% in the third quarter, started after the pandemic. The good performance of construction, mechanical engineering and transport sectors, especially automotive, experiencing a marked rebound of 20.7%, could offset the negative dynamic of domestic appliances of 0.3%. Steel-using sectors’ growth is expected to come to an end in the fourth quarter of 2022. However, 2022 should still see a general output expansion of 2.1%.

voda 7 februari 2023 06:52

0

Details of Algoma Steel's Oil Spill Emerge Arbitration Transcript

Strategic Research Institute
Published on :
7 Feb, 2023, 5:47 am

Soo Today has revealed that a transcript of an arbitration hearing from earlier this year is providing insight into how Canadian steelmaker Algoma Steel managed to hemorrhage more than 20,000 litres of oil from its Sault Ste Marie steel plant, with a portion entering the St Mary’s River,, last summer. As per transcript “The spill occurred because the oil pump could be switched on and operated without supervision. Consequently, when a contractor left a valve open somewhere in the network of pipes, one of the tanks overflowed, causing the spill. Emergency crews worked to contain the June 9 spill of Morgoil, a lubricating oil for heavy machinery, prompting Algoma Public Health to warn residents downstream of the steel plant to not consume, swim or bathe in water drawn from the river, a vital waterway linking Lake Huron and Lake Superior. The Community of Echo Bay’s water treatment plant was shut down for 18 days as a result of the spill, ultimately requiring drinking water to be trucked in. The cost of remediation to the company was significant.”

The recent arbitration hearing which provided new information on the spill took place so that United Steelworkers Local 2251 could challenge Algoma Steel after the company fired an employee for violating the new protocols surrounding the filling of the oil tanks that were established in the wake of the massive spill. The steelmaker alleged that a toothpick was used to jam the pump start button for the oil tanks, an allegation that has been denied by the employee. According to the transcript, the worker indicated he forgot about the new protocol and did not call another person to assist him in filling the tank.

Algoma Steel has now implemented new procedures for filling the oil tanks the next day. Two people are now required to fill the oil tanks; one to continually press the button to let the oil flow, with the other standing by the operating tanks to indicate when they are full.

The incident is being investigated by Ontario’s Ministry of Environment, Conservation and Parks and the Department of the Environment and Climate Change Canada, which may result in charges against the Algoma Steel.

voda 7 februari 2023 06:53

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Pakistan’s Steel Industry Urges SBP to Help Resolve Issue of LCs

Strategic Research Institute
Published on :
7 Feb, 2023, 5:47 am

Business Recorder has reported that Pakistan’s steel industry has made an urgent appeal to the State Bank of Pakistan to open letters of credit for the import of essential raw materials. Pakistan Association of Large Steel Producers Secretary General Mr Wajid Bukhari said “We are facing a dire situation, and we need the support of the State Bank to help us secure the imports we need to keep our factories running. Every day that we are unable to secure these imports, we are losing ground, and the future of our industry is in serious jeopardy. The price has already crossed PKR 300,000 per tonne (USD 1090) and we request urgent support from SBP to act quickly as mills will be running short on supply within weeks along with the recent wave of devaluation which would result in prices to cross PKR 330,000 per tonne (USD 1200) imminently.”

He added “We are calling on the State Bank to take immediate action to support our industry and open letters of credit for the import of raw materials, the spokesperson said. This is an SOS call for the survival of our industry, and we are counting on the State Bank to help us get through this crisis.”

Pakistan’s steel industry is on the brink of collapse due to a combination of factors, including the shortage of raw materials, the increase in international scrap prices, and the successive depreciation of the rupee over the last 18 months. According to industry data, steel production in Pakistan has collapsed by a whopping 50%. The steel industry has been hit hard by the inability to source raw materials and the limited availability of these critical components has driven prices to record levels.

The shortage of raw materials has been further exacerbated by the lack of trade finance available to the industry.

voda 7 februari 2023 06:53

0

Shipbreaking Markets Recovery Continues in Week 05

Strategic Research Institute
Published on :
7 Feb, 2023, 5:48 am

World’s leading buyer of old ships for recycling GMS said “Another solid showing from sub-continent markets has given encouragement to Ship Owners and Cash Buyers, to start testing potential prices with firm candidates. Indeed, several deals have been concluded off the back of these improved numbers, including one more Capesize bulker at firm levels basis an ‘as is’ Singapore delivery. Now that the Chinese New Year holidays have concluded, the expected bounce in freight markets has yet to materialize, so an increased number of dry bulk and container units, in particular, have come under serious negotiations for recycling.”

GMS said “Even global currencies are starting to settle against the US Dollar and steel plate prices have found a relatively steady place, as demand and a firm buying interest is increasing across all markets, even for Pakistan and Bangladesh, where it is often not feasible to do deals there due to the ongoing LC restrictions. Talks on the much-needed IMF loans are still ongoing in each country, to bring back some essential liquidity and US Dollars needed to establish fresh Letters of Credit so that domestic recyclers can start to import vessels & steel once again. In Bangladesh, there are certain select end buyers who can open LCs with private financing, away from the government bank restrictions, or with Usance LCs, but this still provides only limited options to Cash Buyers & Owners with vessels to sell.”

GMS added “Finally, Turkey too continues its stable streak with firming steel prices and a currency that’s found a new plateau to rest on, resulting in vessel prices firming an additional USD 10 per tonne last week.”

In other news, the Brazilian government owned warship Sao Paolo has tragically and unnecessarily been scuttled off the coast of Brazil with a plethora of hazardous materials on board, all while NGOs and outside observers, with no real knowledge of ship recycling, keep putting pressure on various countries, including Turkey, to deny entry of vessels for recycling.

GMS demo rankings – India/Pakistan/Bangladesh – Week 05 up USD 5 WoW

Dry Bulk – USD 525-545 per LDT

Tankers – USD 535-555 per LDT

Containers - USD 545-5655 per LDT

voda 7 februari 2023 06:54

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US Steel Production Capacity Utilization Climbs to 74% in Week4

Strategic Research Institute
Published on :
7 Feb, 2023, 5:49 am

American Iron & Steel Institute reported that in the week ending on 4 February 2023, US’s domestic raw steel production was 1.656 million net tons while the capability utilization rate was 74.1%. Production was 1.747 million net tons in the week ending 4 February 2022 while the capability utilization then was 80.4%. The current week production represents a 5.2% decrease from the same period in the previous year. Production for the week ending 4 February 2023 is up 1.3% from the previous week ending 28 January 2023 when production was 1.635 million net tons and the rate of capability utilization was 73.1%.

Southern: 705,000 net tons

Great Lakes: 528,000 net tons

Midwest: 207,000 net tons

North East: 152,000 net tons

Western: 64,000 net tons

Adjusted year-to-date production through 4 February 2023 was 8.108 million net tons, at a capability utilization rate of 72.5%. That is down 6.7% from the 8.688 million net tons during the same period last year, when the capability utilization rate was 79.9%.

voda 7 februari 2023 06:55

0

ArcelorMittal’s Ms Irina Gorbounova Joins Boston Metal’s Board

Strategic Research Institute
Published on :
7 Feb, 2023, 5:49 am

Boston United States based company developing Molten Oxide Electrolysis based technology to fully decarbonize steel production Boston Metal has welcomed ArcelorMittal’s Ms Irina Gorbounova and OGCI Climate Investments’ Mr Rick Cutright to its board of directors. The seasoned venture capitalists have joined following the first close of our Series C funding round, led by ArcelorMittal’s XCarb Innovation Fund.

As head of ArcelorMittal’s XCarb Innovation Fund, Ms Irina Gorbounova will bring her expertise in accelerating the progress of steel decarbonization technologies to our board, along with her experience in mergers and acquisitions.

Mr Rick Cutright is the technology director at OGCI Climate Investments, a firm that invests in innovations, technologies, and projects that are decarbonizing hard-to-abate sectors like steel. He joins our board of directors after serving as a board observer since 2019.

Bijlage:

voda 7 februari 2023 06:56

0

Highbar Orders Rebar Minimill from SMS

Strategic Research Institute
Published on :
7 Feb, 2023, 5:50 am

A new scrap metal recycling and steel production company Highbar has placed an order with SMS group to build new rebar minimill in the United States. The first rebar mill will be built on a site just outside of Osceola in Arkansas and site selection activities are underway for the other two locations. Groundbreaking for the project is expected to take place in Q2 2023 with start-up planned twenty-two months later.

The minimill will feature SMS group’s CMT (Continuous Minimill Technology) a low-emission and energy efficient steelmaking system that supplies liquid steel to a high-speed caster that directly feeds the rolling mill in a single, highly reliable process. Efficiency is increased by the SMS group’s AURA DC (Advanced Unit Rectifier Assembly) powered Electric-arc furnace with All-Charge continuous feeding system and robotic solutions that improve labor efficiency.

SMS Concast will be supplying a high-speed single strand caster and the link to the rolling mill will be through induction equalization furnace provided by SMS Elotherm.

The rebar mill is equipped with fourteen housing-less stands and an eight-pass MEERdrive high-speed finishing block. SMS group’s quenching and soft cooling TMbaR thermo-processing systems will be incorporated into the rebar mill. The minimill will have industry 4.0 digital solutions and AI controlled processes to be future-ready to take advantage of digitalization from start-up. Design is such that natural gas is not required during the production process, a first of its kind, achieving an extremely low carbon footprint and up to a 50% reduction in emissions compared to other leading rebars mills.

SMS group is responsible for new equipment sales, upgrades and modernizations for North American metals producers, and is a world leader in outsourced maintenance services for the steel and non-ferrous metals industry. SMS group Inc, a member of the SMS group family, has its headquarters in Pittsburgh, Pennsylvania and operates 21 individual workshops across the United States.

voda 7 februari 2023 06:57

0

15 Organizations Launch Flue2Chem to Address UK Net Zero Targets

Strategic Research Institute
Published on :
7 Feb, 2023, 5:50 am

Key industrial players representing a GBP 73 billion UK sector have signed a collaboration agreement to launch Flue2Chem, a collaborative programme to transform the sustainability of the UK’s consumer products industry and reduce green-house gas emissions on a demonstration scale. Society of Chemical Industry, Unilever and 13 other organizations have secured funding for a two-year programme to develop a new value chain to convert industrial waste gases into sustainable materials for consumer products. In addition to SCI, Unilever, BASF and Tata Steel, the other consortium partners are: UPM-Kymmene, Holmen, Croda, Johnson Matthey, The University of Sheffield, The University of Surrey, Carbon Clean, Procter & Gamble, Centre for Process Innovation, Confederation of Paper Industries, and Reckitt. These organizations encompass the capture, transformation and use of the carbon emissions in industry.

The project, which has been granted GBP 2.68 million from Innovate UK, will aim to help the UK reach its net zero targets. The funding came via the Transforming Foundation Industries Challenge.

The aim of the consortium is to enable the use of waste gases from foundation industries such as the production of metals, glass, paper and chemicals to generate an alternative source of carbon for UK consumer product production. This comes at a time when most of the carbon used in everything from electronics to home care and many other products is extracted from coal, oil and gas. If the UK is to reach its net zero target by 2050, industries must find an alternative source for the carbon in these goods.

Aside from the technical aspects of the project, the business model development will frame the economic incentives that are likely to be required to make the model work. The project will bring together partners from across the whole supply chain to achieve this.

Currently the UK is importing large amounts of carbon containing feedstocks each year for use in the consumer goods industry. Securing an alternative domestic source of carbon in these goods is one way in which these sectors can contribute to net zero targets, while also building a new UK value chain.

SCI is a unique global multidisciplinary network connecting scientists, business people, students and other key players involved in science-based innovation. SCI promotes innovation via its international network to advance the commercial application of science into industry for the benefit of society. SCI works across crucial sectors as diverse as food and bio-renewables, water, environment, energy, materials and manufacturing, and health and wellbeing.

voda 7 februari 2023 06:58

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Salzgitter & Baffinland Sign MoU for Low Carbon Green Steel SALCOS

Strategic Research Institute
Published on :
7 Feb, 2023, 5:51 am

Canadian miner Baffinland Iron Mines & German steelmaker Salzgitter’s subsidiary Salzgitter Flachstahl are strengthening their cooperation by signing a Memorandum of Understanding to investigate the use of Nunavut high-grade iron ore in low carbon steel production. Baffinland & Salzgitter Flachstahl will consider which supply strategies regarding using iron ore produced by Baffinland are best suited to hydrogen-based steel production in a direct reduction plant. In addition, the companies will work together on optimizing the Scope 3 emissions of their shared value chains.

Low carbon green steel forms the basis of the transition to clean sources of energy and is necessary for virtually every aspect of global decarbonization. Having high-grade iron ore is a prerequisite for producing green steel. Baffinland iron ore has superior chemistry combined with first-rate metallurgical properties. Baffinland’s operation is different than many others in that the iron ore is crushed and screened on site, and then shipped directly to markets as no concentrating or processing is needed, and as a result no tailings are produced.

Starting in 2025, the Salzgitter Group will begin incrementally switching its steel production to hydrogen-based processes under its SALCOS® - Salzgitter Low CO2 Steelmaking transformation program. The aim is to achieve virtually carbon-free production by 2033.

Vertraagd	24 feb 2025 17:37
Koers	26,830
Verschil	-0,220 (-0,81%)
Hoog	27,020
Laag	26,600
Volume	1.746.632
Volume gemiddeld	2.637.315
Volume gisteren	1.778.340

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