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IEEFA Says High Grade Iron Ore Needed for Steel Decarbonization

Strategic Research Institute
Published on :
01 Jul, 2022, 6:35 am

The Institute for Energy Economics and Financial Analysis Lead Energy Finance Analyst for Bangladesh, Pakistan and the global steel sector as well as Asian seaborne thermal and coking coal markets Mr Simon Nicholas & energy finance analyst with IEEFA Australia Mr Soroush Basirat in a recent report have highlighted that decarbonizing the steel industry will require an increase in high grade iron ore production and improved beneficiation techniques.

Mr Nicholas wrote “To reach net zero emissions by 2050, steelmakers must switch production methods from blast furnaces that consume coal to green hydrogen-based direct reduced iron processes. However, DRI technology requires a higher grade of iron ore than blast furnaces, typically at least 67%. Iron ore miners continue to be largely focused on producing lower quality blast furnace-grade iron ore as this coal-consuming technology still produces the great majority of the world’s steel.”

Mr Basirat said that deposits of high-grade iron ore were scarce, but noted that mining options were available to alleviate the DR-grade iron ore supply issue. He wrote “Increased focus on magnetite mining is one option. Magnetite iron ore is often more suitable and preferable for further processing and producing iron ore concentrate and pellets of DR-grade quality. There may also be the possibility of beneficiation of some existing iron ore production towards DR-grade.”

As Bloomberg New Energy Finance anticipates 59% of primary steel production coming from DRI-EAF processes by 2050 under a net-zero steel sector scenarios, Mr Basirat wrote “This would mean 889 million tonnes of steel production from DRI-electric arc furnace by 2050, requiring a tenfold rise in DR-grade iron ore supply unless technology innovations allow DRI processes to use lower-grade ore. Fortunately, such technology innovations are being developed providing a potential solution to the DR-grade iron ore supply issue.”

Mr says Nicholas added “German steelmaker ThyssenKrupp is planning to begin replacing its blast furnaces with DRI plants that include an integrated melting unit, submerged arc furnace, from 2025. The resultant liquid iron will then be converted to steel in the company’s existing metallurgical plant. This technology configuration will allow ThyssenKrupp to use blast furnace-grade iron ore in their DRI processes. ArcelorMittal and BlueScope Steel are also examining similar DRI-melting unit combinations that would allow the use of blast furnace-grade iron ore in direct reduction processes.”

Mr Nicholas said “The challenge imposed by limited DR-grade iron ore supply on plans for a large global scale-up of DRI production is significant. Given long mining lead times and technology development requirements, the focus on potential solutions must increase immediately.”

The amount of additional DR-grade iron ore capacity to be operational by 2030 is far from certain. In its 2021 iron ore project review, Wood Mackenzie provides data on planned mine projects that are earmarked to start producing ore this decade with Fe content of 67% or higher. This list totals 213 million tonner per year of new capacity, all magnetite projects, but Wood Mackenzie considers only 41 million tonner per year of this potential new iron ore capacity to be probable or highly probable with the remaining four-fifths considered only possible.
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Government Extends PLI Scheme for Specialty Steel Deadline Again

Strategic Research Institute
Published on :
01 Jul, 2022, 6:38 am

Indian Government has extended for the fourth time the deadline to submit applications under the Production-Lined Incentive Scheme for Specialty Steel till 31 July 2022 and accordingly the application window will be kept open up to 31 July 2022. Initially, 29 March was the last date for manufacturers to apply for the benefits under the PLI scheme for specialty steel. It was later extended till 30 April, to 31 May & 30 June 2022.

Union Cabinet chaired by Prime Minister Mr Narendra Modi had approved INR 6,322-crore PLI scheme to boost the production of specialty steel in India in July 2021. The move is expected to attract an additional investment of about INR 40,000 crore and generate 5.25 lakh job opportunities.

The scheme shall be applicable for

Coated & Plated Steel Products

High Strength & Wear resistant Steel

Specialty Rails

Alloy Steel Products & Steel Wires

Electrical Steel
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JFE Steel Moves Ahead with Testing CO2 Utilization Technologies

Strategic Research Institute
Published on :
01 Jul, 2022, 6:41 am

Japan’s second largest steel maker JFE Steel Corporation is moving ahead with two R&D projects to develop technologies that will use CO2 in steelmaking processes that are expected to help the company eventually to become carbon neutral. One project is a partnership with the Research Institute of Innovative Technology for the Earth aimed at optimizing a system that uses CO2 for methanol synthesis. The other project is a partnership with Ehime University that is researching and developing CO2 fixing technology based on fast, large-quantity carbonation of steel slag. As a result of continued progress with both projects, JFE Steel has now approved the construction of test facilities for making use of steelmaking byproducts, including steel slag and combustible gasses such as blast furnace gas. Facilities at its JFE Steel West Japan Works in Fukuyama Area and East Japan Works in Chiba Area will accelerate R&D initiatives aimed at significantly reducing CO2 emissions through more effective use of steelmaking byproducts.

Construction at the JFE Steel West Japan Works will begin this year and the facilities will enter operation in 2023. Demonstration testing is to be completed within 2025. R&D will focus on the commercial launch of a large-scale carbon capture and utilization process for be incorporated in a to-be-decided steelmaking method, such one using carbon-recycling blast furnaces.

Construction at the JFE Steel East Japan Works will begin in next year and the facilities will enter operation in 2024. Demonstration testing is to be completed within 2025. R&D will focus on the assimilation of CO2 generated by steelmaking processes, such as those involving carbon-recycling blast furnaces, and also by thermal power plants, to produce CO2-fixed steel slag for use in road construction.

The facilities for both projects will be built in response to the New Energy & Industrial Technology Development Organization’s public invitation to companies and organizations to participate in an umbrella project targeting the development of technologies for carbon recycling and next-generation thermal power generation and also for reducing CO2 emissions and utilizing CO2. NEDO will conduct interim assessments within this year and then formulate detailed plans for both projects in or after the fiscal year beginning in April 2023.

In May 2021, JFE announced its JFE Group Environmental Vision for 2050, which places a top priority on addressing climate change, based on which the group is now vigorously exploring a number of viable solutions. Going forward, JFE will continue pursuing a multitrack approach to developing ultra-innovative technologies that will contribute to a more sustainable world.
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Consortium Launches GravitHy in Europe for Green DRI

Strategic Research Institute
Published on :
01 Jul, 2022, 6:44 am

A consortium composed of EU’s European Institute of Innovation & Technology’s innovation engine for sustainable energy EIT InnoEnergy, Engie New Ventures, Plug, FORVIA, GROUPE IDEC through Groupe IDEC Invest Innovation and Primetals Technologies as a partner of the consortium have launched GravitHy, a future market leader in green steel. The fully sustainable iron and steel company will support the growing demand for zero carbon steel, whilst contributing to Europe’s Fit for 55 package ambitions to decarbonize hard-to-abate industries. The project, which plans to mobilize 2.2 billion Euro worth of investment at commissioning, will build its first plant in the area of Fos sur Mer, Southern France, with construction commencing in 2024. The company aims for the plant to be fully operational by 2027, subject to any required regulatory approvals. GravitHy has an ambition to produce an annual throughput of 2 million tons of Direct Reduced Iron and to create over 3,000 direct and indirect jobs for the region.

Launched in 2022, GravitHy is a sustainable iron and steel company, with its first plant located in Fos-sur-Mer in Southern France. GravitHy will address the growing demand for green iron and steel. GravitHy will support in easing emissions from this industry by generating and using green and low-carbon hydrogen to produce DRI. The DRI will be used either on-site as a feedstock for green steel or traded globally under the form of Hot-Briquetted Iron. This directly contributes to the decarbonization of the hard-to-abate value chain of steelmaking and supports the EU’s ambition of carbon neutrality by 2050.

GravitHy’s roster of world-class founders has been brought together based on cross-sector collaboration and skills sharing.

EIT InnoEnergy, the world's largest investor in sustainable energy innovations, will provide its business acceleration services through its European Green Hydrogen Acceleration Center, EGHAC, supported by Breakthrough Energy. EGHAC, was set up to serve as a key enabler of industrial value chains and clean tech innovation, with the aim of developing an annual EUR 100 billion green hydrogen economy by 2025.

Engie offers deep knowledge of hydrogen, renewables, and electricity markets.

Plug offers experience on integrated hydrogen projects and is a leading manufacturer of electrolysers.

The Groupe IDEC, a major player in all segments of the real estate market (development, investment, design-build, energy), will provide the support in the search for land.

Primetals Technologies will add to this, providing cutting edge technology and expertise to enable green and low carbon steel production.

FORVIA will represent the off-take side of the value chain.
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Turkish rebar export prices rebound on improved demand
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Turkish producers have increased their rebar quotes in both domestic and export markets since last week due to improved demand and rebounded scrap prices. Quotes, at $690-710/tonne fob Turkey, however, are yet to return to mid-June levels.

On Thursday, Turkish mills’ export quotes were mostly at $640-660/t fob actual weight. Some mills, expecting to see even higher prices next week due to strong domestic demand, are seen keeping their sales closed until Monday. This points to a sharp rise as offers last Monday were at around $600-605/t fob.

A Turkish mill tells Kallanish: “Prices and demand are higher in the domestic market. Export markets are resisting the levels which are even below domestic prices. We will thus not rush to sell in export markets.”

Following a long downtrend and finally a rebound in prices, demand has recovered. A Turkish mill sold 50,000 tonnes of rebar to Hong Kong at $670/t cfr actual weight towards the end of last week. The same mill has sold this week a 10,000t top-up cargo to its previous sale to the US done in the last ten days.

Following initial bookings at $620/t fob earlier this week, 20,000t of rebar were sold to the EU at around $650/t fob actual weight. Although there are rumours of sales to Singapore at $650/t cfr theoretical weight, this is yet to be confirmed.

Yemeni buyers, who were waiting for prices to drop, are seen to have returned to the market. There have been sales to Yemen and Israel, both major destinations. There is also demand for Turkish rebar in Africa and South America.

Although Turkish mills are enjoying livelier demand this week, most market participants question whether market fundamentals are solid enough for activity to sustain.

A trader says: “This may be a small wave of [pent-up] demand which was on hold for a long time and may end after urgent needs are met. There are no such strong market conditions in the rest of the world. But as long as domestic remains strong, no price falls should be expected.”

Another trader says: “Turkish mills initially fuelled the market, citing the rise in scrap prices. In fact, other conditions, such as the rebound in China, the interruption in domestic supply due to alleged fraudulent billing, and sales to Asia have also supported prices. But unless there is an actual recovery in the global market, this may be short-lived.”

In Turkey’s domestic market, stockists’ demand remained very strong on Thursday. Although some mills opened sales at $640/t levels in the morning, prices increased to $685/t ex-works later. Most mills, preparing for higher prices on Friday, closed sales in the afternoon.

As for scrap, although there were numerous offers in the market earlier this week, almost all suppliers are seen to have backed off and are now targeting higher prices. Although no fresh deals were heard on Thursday, market participants think premium HMS 1&2 80:20 has already exceeded $350/t cfr Turkey. A UK-origin deal was reported done at $355/t cfr, but this is yet to be confirmed.

Burcak Alpman Turkey
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Researchers Increase Steel Parts Life Using Neural Network

Strategic Research Institute
Published on :
04 Jul, 2022, 5:42 am

Repetitive loads on metal parts cause fatigue failure. Each loading cycle leads to cracks that grow over time. Larger damage appears and finally the part fails. Fatigue failure inevitably occurs in almost all mechanisms; this applies to all areas of industry. So, engineers and scientists are looking for different ways to strengthen the metal using various coated and processing methods. Russian RUDN professors and their colleagues from Ontario Tech University Canada, Politecnico di Milano Italy & Karabuk University Turkey have created an artificial neural network that is able to predict the lifetime of a component made of AISI 1045 steel and choose the optimal coating and its thickness.

Scholars have created a neural network that is able to estimate the lifetime of carbon steel AISI 1045 with different types of coatings under the influence of cyclic loadings. They used nickel, hardened chromium, and galvanization as protective coatings in the model. RUDN researchers have achieved 99% accuracy of neural network predictions. Moreover, the authors were able to choose the optimal protective coating - a 10-15 micrometers layer of nickel or zinc. Also, hardened chromium, as it turned out, reduces the fatigue lifetime of steel.

First, RUDN scientists conducted a series of experiments on the real steel parts. 23% of the obtained data was used to train the neural network, and the rest of data was to testing and validation of the resulting predictions. The scientists tried out several neural networks, with different numbers of inner layers and neurons in each layer.

RUDN University’s Department of Transport Professor Reza Kashy Zadeh Kazem said “Most machine components in the offshore oil and gas, and the offshore wind energy industries are affected by the repeated applied loadings that make fatigue failure. Since the destruction fatigue phenomenon is very sensitive to various parameters, including material, load, temperature, humidity, vibration, and so on, it is appropriate to use neural networks for its analysis.”

RUDN University’s Department of Transport Professor Dr Igor Danilov added “We investigated the impact of various traditional industrial coatings, including nickel, chromium and zinc, which are commonly used to improve corrosion resistance, on the fatigue longevity of AISI 1045 carbon steel. The results of the experiments showed that coatings of nickel and galvanization with a thickness of 13 µm increase fatigue durability. On the contrary, hardened chromium reduces the fatigue durability of AISI 1045 steel.”
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EU Automotive Industry to Grow by 1% YoY in 2022

Strategic Research Institute
Published on :
04 Jul, 2022, 5:46 am

European Steel Association EUROFER in latest Economic & Steel Market Outlook said that the output in the automotive sector recovered modestly by 3.8% YoY in 2021 after the severe drop of 16.7% YoY experienced in 2020 due to the pandemic. The year 2020 was the second recession in a raw after 2019 with minus 2.3% YoY decline. The EU automotive sector had already experienced its worst slump during the euro area crisis of 2010-2012, when the recession was even bigger at minus 26.31. In 2020, the automotive sector was the hardest hit among all steel-using sectors. Its output has been on a downward path since the third quarter of 2018: sluggish domestic and export demand, trade-related uncertainties, emissions rules, shifting patterns in ownership and model ranges had been felt all over 2019 before the onset of the pandemic.

The continued supply chain issues experienced over the summer of 2021 increasingly resulted in shortage of components and semiconductors, rise in energy prices and production costs, slowdown in global trade. The annual performance of 2021 of minus 2.4% for the entire year, down to 9.7 million units, has proved to be even worse than the already weak performance of 2020.

The invasion of Ukraine by Russia in late February 2022 has worsened the already subdued outlook even further. This situation also contributed to continued depressed demand and consumer uncertainty. The latest passenger car registrations data show that car sales in the EU fell by 12.3% in the first quarter of 2022. Most individual countries recorded double-digit drops in sales, including the four key markets: Spain at minus 30.2%, Italy at minus 29.7%, France at minus 19.5% and Germany at minus 17.5%. During the first quarter of 2022, new car registrations fell by 12.3% YoY.

Automotive output is expected is grow a bit more robustly in 2022, despite the severe repercussions of the ongoing supply chain disruptions and the war in Ukraine. Growth is expected to be largely due to the rebound in output of some major economies, mainly Germany, after three consecutive slumps from 2019 to 2021. The already mentioned supply chain disruptions have started to impact considerably the automotive industry around the third quarter of 2021 and are expected to persist at least throughout 2022. In addition, subdued consumer confidence, due to modest disposable income, has been impacting car demand since the second half of 2018. The latter is expected to remain weak until the macroeconomic picture and consumer disposable income substantially improves -now even less likely given the worsening economic outlook.

Uncertainties around the implementation of EV and delays in the launch of new models - many hybrid or fully electric and lack of facilities like recharging points etc have proven unsupportive factors of consumer demand and have also delayed investment decisions by carmakers. Full recovery in global trade and external demand from major markets such as the US, China and Turkey will remain a key factor for EU car exporters, but this is not likely to materialize as long as the uncertainty linked to the war in Ukraine and global supply chain disruptions persist. In the longer-term, however, political commitment (Fit for 55, etc.) at EU level towards the full adoption of EV by 2035 will prove somewhat supportive, despite the fact that general car demand appears to be dependent on fragile consumer confidence throughout 2022 and 2023.

As a result, 2023 is expected to be another difficult year for the sector, with a very feeble growth in output of 0.8% YoY.
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SteelAsia Setting up Batangas Melt Shop with Tenova Technology

Strategic Research Institute
Published on :
04 Jul, 2022, 5:49 am

Business World reported that SteelAsia Manufacturing is planning to start the operation of its industrial scale melt shop in Lemery in Batangas in Philippines by 2024. The report quoted SteelAsia as saying that “The melt shop, which is the first of its kind in the country, will use the latest green technology from Italy-based Tenova to reduce the project’s carbon footprint. Its Consteel Evolution technology saves energy, decarbonizes steel production, and reduces environmental impacts through efficient energy recovery and pollution control innovations.”

The 600,000 tonne plant will use local scrap metal to produce high-grade billets, which are used as raw material for the construction of buildings, ports, and ships.

SteelAsia President Mr Benjamin O Yao said the melt shop will formalize and organize the collections, consolidation and recycling of scrap metal across the country and will provide opportunities for individuals and small businesses such as junk shops and would also help reduce the country’s importation of billets. He said “This is part of the vision of SteelAsia to put in place an integrated steel industry, the backbone of a country’s industrial base.”

SteelAsia, the largest steel producer in the Philippine, already has six operating plants and has lined up several more in a multibillion-dollar plan to keep the country abreast of its neighbors.
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Nucor Orders Coil Inspection Line System from Fives

Strategic Research Institute
Published on :
04 Jul, 2022, 5:53 am

US steel maker Nucor has awarded Fives a contract for a recoiling and inspection line to support automotive applications at the new Nucor steel plant in West Virginia in US. The recoiling and inspection line includes Fives' state-of-art digital solution Eyeron, an intelligent quality management system that collects upstream process data, checks consistency with quality rules and automatically assesses product quality grading. Eyeron will be tracking quality on the vertical galvanizing line and the recoiling & inspection line to ensure the products meet the automotive quality standards.

Nucor is building a new steel mill for sheet metal production on the Ohio River with a total investment of about USD 2.7 billion, which is to start operations in the second half of 2024. This contract comes in addition to the two galvanizing lines already won by Fives for this Greenfield facility.

Nucor Corporation is a producer of steel and related products headquartered in Charlotte in North Carolina in USA. It is the largest mini mill steelmaker in US and the biggest recycler of scrap in North America. Nucor operates 23 scrap based steel production mills. Last year, Nucor shipped 28.2 million tonnes of steel, steel products and raw materials, and recycled nearly 23 million tonnes of scrap.

Fives Group is an industrial engineering group with a heritage of over 200 years and headquarters in Paris, France. Fives designs and supplies production lines, machines and process equipment for the world's largest industrial players in various sectors, such as steel, aerospace and special machining, aluminium, automotive and manufacturing industries, cement, energy, logistics and glass. Fives employs over 8,000 people in about 25 countries.
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NMDC Iron Ore Sale in Apr-Jun Quarter Shrinks by 20% YoY

Strategic Research Institute
Published on :
04 Jul, 2022, 5:51 am

Indian state owned iron ore miner NMDC announced that its total production of iron ore in Chhattisgarh & Karnataka was 2.57 million tonnes in June 2022, down by 14% YoY, while total sales was 1.9 million tonnes, down by 40% YoY.

Production April-June 2022 Quarter

Chhattisgarh - 6.86 million tonnes, up by 16% YoY

Karnataka - 2.06 million tonnes, down by 30% YoY

Total - 8.92 million tonnes, flat YoY

Sales April-June 2022 Quarter

Chhattisgarh - 6.20 million tonnes, down by 11% YoY

Karnataka - 1.46 million tonnes, down by 44% YoY

Total - 7.66 million tonnes, down by 20% YoY
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JFE Steel Uses Double-Slag Refining to Cut CO2 Emissions

Strategic Research Institute
Published on :
04 Jul, 2022, 6:02 am

Japan’s second largest steel maker JFE Steel Corporation has announced that increased use of scrap iron at its steelmaking facilities in Japan enabled the company to reduce CO2 emissions by some 170,000 tonnes in fiscal ended in March 2022. The achievement was made possible by introducing the eco-friendly Double-Slag Refining Process at each facility. DRP is a converter-type molten-iron pretreatment process that allows extra scrap iron to be used in converters, which results in fewer CO2 emissions in steelmaking operations. Molten iron pretreatment removes impurities such as silicon and phosphorus from molten iron tapped from a blast furnace. The process improves yield by reducing the need for adding auxiliary materials. DRP technology, however, makes maximum use of the silicon in molten iron as a heat source and allows the molten-iron blending ratio ie molten iron vs scrap charged into the converter to be reduced to 82%, down from 90% conventionally.

The JFE Group Environmental Vision for 2050, introduced in May 2021, has positioned climate change as one of parent JFE’s top priorities, based on which the group is vigorously pursuing diverse solutions in order to lower the impact of its overall operations. Under this vision, JFE Steel is working to significantly reduce its CO2 emissions by investigating multiple potential technologies in order to find and adopt the very best solutions for low-impact processes that ultimately contribute to a more sustainable world.

JFE Steel Corporation, one of the world’s leading integrated steel producers, was established through the consolidation of NKK Corporation and Kawasaki Steel Corporation in 2003. The company operates several steelworks in Japan and numerous branch offices and affiliates throughout the world. The company reported consolidated sales of JPY 2,255 billion and consolidated crude steel output of 23.96 million tonnes in the fiscal year ended March 2021.
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Simec to Double Production at Pinda Plant in Brazil

Strategic Research Institute
Published on :
04 Jul, 2022, 5:56 am

Mexico headquartered ICH’s steel maker Simec has announced investments of USD 300 million to expand the production capacity of its Pinda plant in Pindamonhangaba in the state of Sao Paulo in Brazil. The investment consists of a new electric arc furnace and a new rolling mill, to be produced in China with German technology. The additional capacity will cover rebar and wire rod.

The Pinda plant produces long steel products and the investment will double production capacity from the current 500,000 million tonne per year to 1.0 million tonne per year, with the new capacity commencing in June 2024. Considering an ongoing expansion at the Cariacica plant, Simec will have a 1.7 million tonnes of rolling capacity when the expansion of the Pinda plant is concluded.

Simec is a leader in the North American specialty steel industry. Simec entered Brazil in 2011, when it acquired the site to build the Pindamonhangaba plant. In Brazil, Simec is the third largest producer of long steel products, after ArcelorMittal and Gerdau, having two other plants, located in Cariacica in the state of Espirito Santo and Itauna in the state of Minas Gerais, both in the Brazilian southeastern region.

Currently, Simec has eight units in Mexico, seven in the US, one in Canada and three plants in Brazil.

ICH is a Mexican Steel company, which produces and processes steel, and has had continuous growth for the past three decades. ICH is the largest producer of special bar quality steel in North America and a top producer of commercial and structural steel long products in México. ICH was founded in 1934 with the name Herramientas, mainly dedicated to producing agriculture, hand and construction tools. At the beginning of the 1960’s, as part of vertical integration, ICH began manufacturing specialty steel, also diversifying with steel fabrication, metal structures & buildings, overhead cranes, and shipbuilding, both others.
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TRA Reallocates Rebar & HR Quotas of Russia & Belarus

Strategic Research Institute
Published on :
04 Jul, 2022, 5:59 am

In light of current UK sanctions on imports from Russia and Belarus, the Trade Remedies Authority had initiated a Tariff Rate Quota review of steel imports covered by the UK’s safeguard trade remedy measure. The TRA assessed whether the quotas for these countries should be re-allocated to avoid a potential shortage of steel in the UK. The Secretary of State for International Trade has accepted the TRA recommendation and the HMRC notice was published on 30 June & the tariff rate quotas changed from 1 July 2022. Russia and Belarus between them accounted for around 22% of the UK’s supply of rebar. The TRA has recommended reallocating the Russia and Belarus quota to other countries and regions including Ukraine, the EU, Turkey and Taiwan.

There are two product categories affected by the re-allocation. Category 1 (non-alloy and other alloy hot rolled sheets and strips) are used in yellow goods, construction, tube-making and the production of downstream steel products. Category 13 (rebars) are used in construction, the automotive industry, engineering and white goods manufacture. New tariff rates may apply to imports of steel in these categories, depending on which country they come from.

As with any safeguard measure, the UK has set quotas for different countries or regions to import a certain amount of steel tariff-free into the UK. Once their quota is exhausted, they have to pay a higher tariff rate.
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Steel Ministry Emphasizes for Circular Economy in Steel Sector

Strategic Research Institute
Published on :
04 Jul, 2022, 6:06 am

Promoting Circular Economy is one of priority areas of the Government. The steel industry is an integral part of the circular economy. Steel is ideally suited to be remanufactured, reused and ultimately recycled. In this background, a meeting of the Parliamentary Consultative Committee attached to Ministry of Steel under the Chairmanship of the Steel Minister was convened at Tirupati to discuss the topic “Roadmap for Circular Economy in Steel Sector”. The Chairman of the Committee India’s Union Steel Minister Mr Ram Chandra Prasad Singh highlighted the immense possibilities of utilization of waste generated during mining, steel manufacturing process and end of life products. The Chairman appreciated the suggestions and emphasized that this will boost the investment, employment and growth and is in line with the vision of the Hon’ble Prime Minister for promoting Circular Economy. Chairman urged upon the stakeholders to take definitive steps towards promoting circular economy and Waste to Wealth in the steel sector

During the meeting, the concept of circular economy was explained which involves minimization of use of natural resources. This also involves adoption of principle of 6Rs ie Reduce, Reuse, Recycle, Recover, Redesign and Remanufacture with the objective to increase material resource efficiency and reduce impact on environment.

The committee was apprised that manufacturing steel through scrap and other waste products is a step towards Green Steel. It was also highlighted that various wastes, scrap and by-products generated during mining and steel making can be effectively used for making steel and other applications like cement manufacture, road construction, agriculture etc.

In the meeting, discussions were held with the Members of the Committee on the opportunities, benefits, challenges and way forward for creating circular economy in the steel sector. The members of the Committee appreciated the work being done by the Steel Ministry and suggested various steps for achieving the objective of circular economy in the steel sector. The members of the committee also emphasized the need to create awareness and increase the use of steel, especially in the rural areas. The increase in consumption of steel will lead to increase in availability of steel scrap in the future. The members advised that steps should be taken for integration of informal sector into the formal sector which will help in creating conducive ecosystem for circular economy in the steel sector.
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ArcelorMittal Acquires Majority Stake in HBI Plant in Texas

Strategic Research Institute
Published on :
04 Jul, 2022, 6:08 am

Global steel giant ArcelorMittal announced that following receipt of customary regulatory approvals it has completed the acquisition of an 80% shareholding in Voestalpine’s Hot Briquetted Iron plant located near Corpus Christi in Texas in US. The acquisition, announced in April this year, values the Corpus Christi operations at USD 1 billion. The state-of-the-art plant is one of the largest of its kind in the world. It has an annual capacity of 2 million tonnes of HBI, which is a premium, compacted form of Direct Reduced Iron developed to overcome issues associated with shipping and handling DRI.

ArcelorMittal intends to lead the Decarbonisation of the global steel industry. The transaction enhances ArcelorMittal’s ability to produce the high quality input materials required for low-carbon emissions steelmaking, and reinforces the Company’s position as a world leader in DRI production.
Bijlage:
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Environmental Court Approves H2 Green Steel's Permit in Sweden

Strategic Research Institute
Published on :
04 Jul, 2022, 6:12 am

The Environmental Court in Umeå has approved the permissibility for H2 Green Steel’s 5 million tonne steel plant which is to be established in Boden in northern Sweden. The company can now start the construction groundwork on the site already over the summer. Leading up to the court decision, H2 Green Steel has had a constructive and efficient dialogue with all stakeholders and parties involved in the permit process. As part of its decision, the court presented a few conditions for the permissibility which were expected and are a result of the discussions in the public hearing in the Environmental Court in 8-9 June 2022.

H2 Green Steel will start preparatory work at the site within the next two weeks, while planning for the next phase of its permit which the company is hoping to have approved by the end of 2022.

H2 Green Steel was founded in 2020 with the aim to build a large-scale green steel production in northern Sweden. By 2024 we will be in production at our Boden site, and by 2030, we will produce five million tonnes of green steel annually. Vargas, co-founder and a major shareholder in Northvolt, is also H2 Green Steel’s founder and largest shareholder.
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Vale to Switch to Natural Gas for Iron Ore Pelletizing in 2024

Strategic Research Institute
Published on :
04 Jul, 2022, 6:30 am

Brazilian mining giant Vale has entered into a contract to enable the supply of natural gas to the São Luís Plant in Maranhão, starting in 2024, thus consolidating the use of this fuel in all its pellet plants. The initiative contributes to the goal of reducing its direct and indirect carbon emissions by 33% by 2030. In addition to São Luís, the company operates pellet plants in Espírito Santo, Minas Gerais and Sohar in Oman. With the contracts signed on Thursday with Eneva, a supplier of natural gas, and Companhia Maranhense de Gás, the distributor that will take the fuel to the plant, the São Luís plant will stop using fuel oil in its furnace, with an estimated reduction in greenhouse gas emissions, as a result of the exchange, of up to 28%.

This initiative will additionally represent a reduction in fuel costs, considering that natural gas is cheaper than fuel oil. Another relevant aspect is that the recent regulation implemented by the gas law, as part of the sector’s unbundling movement, makes it possible for this contract to be carried out within the scope of the Free Market. This action, therefore, signals adherence to the national movement to open up the natural gas market, which advocates a more dynamic and competitive environment.

The contracting of natural gas also brings an important social bias to Maranhão. This is because it is part of Vale’s Share Program, which provides for social investments by the supply chain, creating an integrated network committed to sustainable socio-economic development in the region. The initiative is in line with the company’s commitment to the 2030 Agenda, aimed at communities and promoting social progress in the locations where it operates.

Distributor Gasmar will implement an unprecedented natural gas distribution network in the state of Maranhão, connecting the port of Itaqui to the company's area, in the Itaqui-Bacanga region. The new network can create conditions for the use of gas by other industries and segments in the region. The supply is expected to start in 2024.
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EUROFER Calls for Balanced EU ETS & CBAM for Green Transformation

Strategic Research Institute
Published on :
04 Jul, 2022, 6:17 am

European Steel Association EUROFER said that the upcoming negotiations on the EU Emissions Trading System and the Carbon Border Adjustment Mechanism need to enable industry’s Decarbonisation and make the green transition a true success story & has called upon the EU institutions to work for a balanced compromise in the final text. EUROFER Director General Mr Axel Eggert said “The final text needs to ensure that higher climate ambition is achieved cost effectively and with strengthened protection against leakage of CO2 emissions, investment and jobs to countries outside the EU. For this, we need a cautious transition from existing carbon leakage measures to a carbon border adjustment with a structural solution for exports, benchmark rules reflecting the gradual transition to new technologies and the recognition of upstream emissions from ferroalloys in stainless steel imports. Additional costs for businesses and households from removing large amounts of CO2 certificates from the market through rebasing and Market Stability Reserve should be avoided.”

Mr Eggert stressed “For our more than 60 green steel projects to be deployed, we need to take investment decisions now. We still do not have, nor will have access to enough and affordable renewables and green hydrogen available any time soon, as no adequate infrastructure exists yet in the EU. In this very volatile economic, energetic and geopolitical situation, the steel industry needs to rely on an enabling regulatory framework to accelerate the green transition.”

The positions adopted by the European Parliament and by the Council, while acknowledging partially some of the issues for the successful Decarbonisation of the steel industry, still fall short of securing the necessary progress on the ETS and CBAM files to safely land the green transition.

The 60 low carbon projects of the steel industry have a CO2 emissions potential abatement of 81.5 million tonnes per year by 2030, equal to around a 2% cut of the overall EU emissions. For the steel sector, this represents a 55% cut compared to 1990 levels, in line with the EU Fit for 55 targets. They require a capital investment of EUR 31 billion and at least EUR 54 billion in operational expenditure.
voda
0
GO Carlson of Oil City Buys Braeburn Alloy Steel in Lower Burrell

Strategic Research Institute
Published on :
05 Jul, 2022, 6:13 am

CCX Inc has sold assets of Braeburn Alloy Steel in Westmoreland County in the US state of Pennsylvania to a GO Carlson subsidiary in the United States Bankruptcy Court for the District of Delaware. The sale was announced on 30 June 2022 by SC&H Capital, an investment banker to CCX Inc. Details of the sales are not immediately available but the companies and SC&H Capital said the transaction would allow Braeburn Alloy Steel to continue operations.

Since 1897, Braeburn has specialized in converting metal and customer-owned raw materials into forged and rolled products. Operating out of its 220,000 square foot facility on the banks of the Allegheny River, just northeast of Pittsburgh, the company processes metal alloys including titanium, refractory metals, high-end nickel alloys, and stainless, tool steel, carbon steel, and alloy steels. CCX had acquired Braeburn Steel in 1944 and retained its name. Faced with reduced sales tied to the COVID-19 pandemic and rising expenses associated with its main processing equipment, Braeburn filed a voluntary petition for relief under chapter 11 in March 2022 to effectuate a going concern sale of its assets. Braeburn continued operations through the chapter 11 filing and the sale provides the opportunity for continued employment for the 40-plus employees.

GO Carlson is a recognized world leader in providing high-performance corrosion and heat-resistant materials making the Braeburn operation an excellent fit for them. When the proposed sale was announced several months ago, GO Carlson’s President & Chief Operating Officer Mr Tracy Rudolph has said in a statement that “His company looked forward to continued employment for the skilled workers at Braeburn and serving its clients and vendors with the same level of satisfaction it has for decades.”

The labor contract for about 35 Braeburn employees represented by USW expired on 30 June. Tribune Live reported that the new owners refuse to recognize the United Steelworkers union. USW spokesman Mt Tony Montana said “The United Steelworkers union is aggressively pursuing unfair labor practice charges against Braeburn and GO Carlson over the company’s refusal to recognize the labor union. The unfair labor practices charges are pending before the National Labor Relations Board in Pittsburgh.”
voda
0
Painful Months Ahead for Vessel Owners

Strategic Research Institute
Published on :
05 Jul, 2022, 6:15 am

World's leading cash buyer of ships for recycling GMS said that “The degraded performance across the ship recycling sector over the last few and painful months shows few signs of abating just yet, as it has been a veritable tale of misery, even though prices remain at some of the firmest levels we have seen over the last decade. Down from the peaks of USD 700 per ton, levels nearly USD 100 per LDT lower have left a bad taste in most mouths in the industry. Certainly, the last time prices crashed from the psychological USD 700 per LDT barrier was back in 2008, when even USD 800 per LDT was briefly breached during the unprecedented boom years of the shipping industry, prior to the global financial collapse in September of that year. However, not for a while have we seen freight rates at such optimistic numbers, as all sectors Dry Bulk, Tankers and Containers continue to fly, giving a healthy collection of these aging ladies, an extended chance at life in their respective global trading fleets. As such, it remains a bit of a conundrum for the ship recycling sector, while candidates remain sparse and their incoming volume unlikely to pick up any time soon, even with prices having declined by over USD 100 per LDT and having left sentiments on the ground in pieces, levels of over USD 600 per ton seems insufficient to tempt vessels towards the shores of recycling.”

GMS said “Steel prices have actually recovered a little in Pakistan, as they stabilize in India to an extent, ending the week at levels similar to those at the beginning of the week. However, it is the currency that continues to afflict Recyclers globally and this is leading to an overall lack of confidence in offering afresh on tonnage. Perhaps a period on the sidelines could reinvigorate sub-continent markets and bring demand back, of course, once steel prices and currencies settle at an acceptable level.”

GMS added “On the far end, Turkey manages to finally wrest the unending slide of nearly 6+ weeks that has seen levels plummet about USD 250 per tonne, as both import and local steel plate prices record improvements of their own.”

GMS Price Assessment - India/Bangladesh/Pakistan – Week 26

Dry Bulk – USD 570-600 per LDT

Tankers - USD 580-610 per LDT

Containers - USD 590-620 per LDT
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