Steel News

A Scrap Shortage Is Coming. Steel Producers Should Act Now, Says Boston Consulting Group

14 March 2024 - A global 9-million-metric-ton scrap surplus could become a 15-million-metric-ton deficit by 2030 as more producers adopt EAF technology to meet decarbonization goals, according to a new forecast from the Boston Consulting Group.

Nucor Signs Five-Year Pellet Agreement

14 March 2024 - Nucor Corp. has reupped a commercial agreement with Brazilian iron ore miner Samarco, signing a five-year supply agreement for iron ore direct reduction pellets.

Great Lakes' Soo Locks Open Next Week

11 March 2024 - It’s an unmistakable sign of spring – iron ore shipping resumes on the Great Lakes. And this year, the season is beginning early. According the (Minneapolis, Minn.) Star-Tribune, the Soo Locks, a gateway between Lake Superior and the lower Great Lakes, will open on 22 March, three days ahead of schedule.

POSCO, Nippon Steel Finalize Stakes in Canadian Met Coal Business

04 January 2024 - Nippon Steel Corp. and POSCO have closed on acquisitions of minority stakes in Teck Resources Ltd.'s metallurgical coal operation.

ArcelorMittal Commissions Demonstration Bio-Coal Plant

20 December 2023 - ArcelorMittal Belgium has commissioned a facility that converts waste wood into bio-coal for use in its Gent blast furnace, the company has announced.

U. S. Steel Readies DR-Grade Pellet Plant for Production

15 December 2023 - United States Steel Corporation is expecting to produce the first batches of low-silica iron ore pellets at the first of the year, following a US$150 million upgrade at its Keetac facility in Minnesota.

Vale Inaugurates Iron Ore Briquetting Plant

12 December 2023 - Vale has cut the ribbon on its first-ever iron ore briquette plant, a milestone achievement that will help the company and its steelmaking customers lower their air emissions.

Deacero Orders Five Scrap Shredders

15 November 2023 - Mexican long products producer Deacero has placed an order with Danieli Centro Recycling for five shredding plants to process light domestic scrap and car bodies, according to the equipment supplier.

POSCO, Nippon Steel Acquire Stake in Canadian Met Coal Miner

14 November 2023 - Canadian miner Teck Resources Ltd. has agreed to sell its metallurgical coal business to a group led by Glencore plc through a deal valuing the business at around US$9 billion.

Outokumpu Takes Position in Biocarbon Producer

13 November 2023 - Stainless steel producer Outokumpu has acquired a 20% stake in a biocarbon producer, a move that locks up a supply of the material.

POSCO Recovers Investment in Australian Iron Ore Operation

10 October 2023 - In 2010, POSCO announced a plan to join the Roy Hill iron ore mining project in Australia, an investment that at the time was the company’s largest ever investment in raw materials. The move was criticized by shareholders on grounds that wildly fluctuating ore prices made it too risky of an investment.

EU Chromium Mine to Become Carbon Neutral By 2025

09 October 2023 - Stainless producer Outokumpu is planning to make the European Union’s only chrome mine carbon neutral by 2025, the company has announced.

Algoma, U. S. Steel Sign Iron Ore Agreement

03 October 2023 - Algoma Steel is extending an iron ore purchase agreement with United States Steel Corporation, securing enough of the raw material to complete its transition from blast furnace production to electric arc furnace production.

Vale to Weigh Potential of Port-Based HBI Plant

27 September 2023 - Iron ore miner Vale has signed a memorandum of understanding with a southeastern Brazilian port to explore development of a hot briquetted iron hub, the company has announced.

JSW Slows Pace on Teck Resources Coal Unit Deal

22 September 2023 - A diplomatic dispute between Canada and India is said to be slowing JSW Steel’s effort to acquire a stake in Teck Resources’ metallurgical coal unit, according to the Reuters news service.

Midrex: Global DRI Output Increased in 2022

14 September 2023 - Global direct reduced iron (DRI) production rose 6.9% last year, growing to a record 127.4 million metric tons, according to Midrex Technologies’ annual tally.

Cleveland-Cliffs Reaches Tentative Labor Agreement With Minnesota Iron Ore Miners

30 August 2023 - Newly unionized workers at Cleveland-Cliffs Inc.’s Northshore taconite operation in Minnesota have reached a tentative labor agreement with the steelmaker.

JSW Steel Hoping to Buy Into Canadian Met Coal Operation

25 August 2023 - JSW Steel is looking to acquire a 20% to 40% stake in a Canadian miner’s metallurgical coal business, reports the Bloomberg news service.

A New Lease, And Life. for Cleveland-Cliffs’ Hibbing Taconite

07 May 2023 - The Minnesota Department of Natural Resources (DNR) is recommending that public mineral leases once held by the Mesabi Metallics taconite project be given to Cleveland-Cliffs Inc., reports the (Minneapolis, Minn.) Star Tribune newspaper.

U. S. Steel, Cleveland-Cliffs Seek Minnesota Iron Ore Leases

07 March 2023 - United States Steel Corporation and Cleveland-Cliffs Inc. are seeking public mineral leases that had been part of proposed mine and taconite pellet plant in Minnesota.