Electric arc furnace

Arc Welding Robots Market to increase by USD 708.44 million during 2022-2027; Growing popularity of industrial robots in APAC to drive the growth - Technavio

Retrieved on: 
Tuesday, January 16, 2024

NEW YORK, Jan. 15, 2024 /PRNewswire/ -- The arc welding robots market size is expected to grow by USD 708.44 million between 2022 and 2027.

Key Points: 
  • NEW YORK, Jan. 15, 2024 /PRNewswire/ -- The arc welding robots market size is expected to grow by USD 708.44 million between 2022 and 2027.
  • The growing popularity of industrial robots in APAC drives market growth.
  • The report analyses the market size and growth and provides accurate predictions on the growth of the market.
  • View a Free PDF Sample
    The report recognizes the following as some of the key players in the arc welding robots market: ABB Ltd., Arrowtek Robotic Pvt.

Algoma Steel Provides Fiscal Third Quarter 2024 Guidance

Retrieved on: 
Wednesday, January 3, 2024

MARIE, Ontario, Jan. 03, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today provided guidance for its fiscal third quarter ending December 31, 2023.

Key Points: 
  • MARIE, Ontario, Jan. 03, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today provided guidance for its fiscal third quarter ending December 31, 2023.
  • Fiscal 2024 third quarter total steel shipments are expected to be around 515,000 tons and Adjusted EBITDA is expected to be in the range of $(10) million to breakeven.
  • Due to the lagging nature of our order book, UAW strike-driven soft demand and pricing in the previous quarter and through October impacted our fiscal third quarter results.
  • We expect this pricing strength, coupled with continued solid market fundamentals, to drive significantly improved realized pricing and overall fiscal results starting with our fiscal fourth quarter,” Mr. Garcia concluded.

European Green Steel Market Report 2023: Scope 3 Emissions Reduction Goals and End-user Demand Drive Growth - ResearchAndMarkets.com

Retrieved on: 
Wednesday, November 15, 2023

The "European Green Steel Market: Insights and Forecast (2023-2028)" report has been added to ResearchAndMarkets.com's offering, providing valuable insights into the European green steel market, with an overview of the industry's dynamics, trends, challenges, and growth drivers.

Key Points: 
  • The "European Green Steel Market: Insights and Forecast (2023-2028)" report has been added to ResearchAndMarkets.com's offering, providing valuable insights into the European green steel market, with an overview of the industry's dynamics, trends, challenges, and growth drivers.
  • Green steel demand is driven by two primary factors: Scope 3 emissions reduction goals and end-user demand.
  • Key Players: The European green steel market is led by key players such as ArcelorMittal, ThyssenKrupp, Salzgitter, SSAB, Tenaris, Tata Steel Europe, Swiss Steel Group, Vanir Green Industries, GFG Alliance, Voestalpine AG, and H2 Green Steel.
  • The "European Green Steel Market: Insights and Forecast (2023-2028)" report offers a comprehensive overview of the market's dynamics, challenges, and growth drivers.

Sustainability Revolution in Steelmaking: Exploring Europe's Fastest-Growing Green Steel Market

Retrieved on: 
Monday, November 20, 2023

Europe's green steel market is expected to reach US$76.97 million by 2023, growing at a CAGR of 75.24% during the forecast period.

Key Points: 
  • Europe's green steel market is expected to reach US$76.97 million by 2023, growing at a CAGR of 75.24% during the forecast period.
  • The outlook for green steel demand has positively surprised over recent years with a larger range of end users than projected.
  • Green steel market demand in Europe is expected to reach 3.68 million tonnes in 2023.
  • The European green steel market is concentrated with SSAB, Salzgitter and ArcelorMittal as best positioned, in Europe.

Global Electric Arc Furnace (EAF) Stainless Steel Market Report 2023-2029: Duplex Steel Demand Set to Surge - The Sustainable Solution Meeting Industrial Needs - ResearchAndMarkets.com

Retrieved on: 
Thursday, September 7, 2023

The Global Electric Arc Furnace (EAF) Stainless Steel Market is expected to grow in the forecast period and register a market value of USD 159.42 Billion in 2029 at a CAGR of 11.53% during the forecast period.

Key Points: 
  • The Global Electric Arc Furnace (EAF) Stainless Steel Market is expected to grow in the forecast period and register a market value of USD 159.42 Billion in 2029 at a CAGR of 11.53% during the forecast period.
  • Duplex and Super Duplex Stainless Steel is a versatile stainless-steel grade whose product are used by various industry to enhance their product quality and durability.
  • The surge in global demand for duplex grade steel is driven by its superior corrosion resistance, high strength, toughness, cost-effectiveness, and increasing adoption in key industrial sectors.
  • Furthermore, the growing focus on sustainability and environmental regulations has contributed to the adoption of the EAF stainless steel production method.

CHAR Technologies Announces C$6.6M Strategic Investment by ArcelorMittal and Annual Biocarbon Purchase Agreement

Retrieved on: 
Wednesday, July 5, 2023

CHAR also signed a Memorandum of Understanding under which ArcelorMittal Dofasco will purchase ‎biocarbon produced at CHAR’s cutting-edge facility in Thorold, Ontario starting in 2023.

Key Points: 
  • CHAR also signed a Memorandum of Understanding under which ArcelorMittal Dofasco will purchase ‎biocarbon produced at CHAR’s cutting-edge facility in Thorold, Ontario starting in 2023.
  • ArcelorMittal’s investment in CHAR marks the Fund’s seventh global investment and first ever in a Canadian company.
  • The XCarb® Innovation Fund investment will be utilized to maximize the impact of the Canadian and Ontario governments’ December 2022 investment of C$12.8M in CHAR.
  • In the future, ArcelorMittal may, from time to time, increase or decrease its investment in CHAR through market transactions, private arrangements, treasury issuances or otherwise.

Metallurgy Test Work Demonstrates Significant Flow Sheet Improvements and DR Grade Concentrate Potential

Retrieved on: 
Saturday, June 17, 2023

The results have confirmed a new process flowsheet that demonstrated the potential to double the historical iron recovery achieved at Plant 4 and to produce Direct Reduction ("DR") grade iron concentrate.

Key Points: 
  • The results have confirmed a new process flowsheet that demonstrated the potential to double the historical iron recovery achieved at Plant 4 and to produce Direct Reduction ("DR") grade iron concentrate.
  • Test work has demonstrated potential to double historical iron recovery rates and to produce DR grade iron concentrate.
  • The Test Work was performed under MagIron's direction by independent experts at the Natural Resources Research Institute ("NRRI") of the University of Minnesota with assistance from Canadian based Soutex Inc.
  • Furthermore, the Test Work results produced final concentrates at iron recoveries ranging from 82% for DR grade to 88% for Blast Furnace grade.

ArcelorMittal North America Announces Supply Agreement with General Motors for North American-Sourced Sustainable XCarb® Steel

Retrieved on: 
Tuesday, June 6, 2023

Its lower CO2 intensity has been independently verified with an accompanying Life Cycle Analysis (LCA) that includes Scope 1, 2 and 3 emissions.

Key Points: 
  • Its lower CO2 intensity has been independently verified with an accompanying Life Cycle Analysis (LCA) that includes Scope 1, 2 and 3 emissions.
  • "This is a terrific first step in supplying steel with substantially lower CO2 emissions to automakers in North America," says Peter Leblanc, CMO Automotive at ArcelorMittal.
  • ArcelorMittal is committed to reducing the carbon intensity of the steel it produces by 25% globally by 2030 and to achieving carbon neutrality by 2050.
  • 1 Reduced emissions based on an ArcelorMittal Dofasco LCA compared to World Steel Association average global Life Cycle Inventory (LCI) values (57-64% emission reduction) and AISI average North American LCI values (45-50% emission reduction) for similar steel products.

NuScale Power and Nucor Corporation Sign Memorandum of Understanding to Explore Deployment of Small Modular Nuclear Reactors to Power Nucor Electric Arc Furnace Steel Mills

Retrieved on: 
Tuesday, May 16, 2023

NuScale Power Corporation (NYSE: SMR) and Nucor Corporation (Nucor) today announced the two companies have signed a Memorandum of Understanding (MOU) to explore co-locating NuScale's VOYGR™ small modular nuclear reactor (SMR) power plants to provide clean, reliable baseload electricity to Nucor’s scrap-based Electric Arc Furnace (EAF) steel mills.

Key Points: 
  • NuScale Power Corporation (NYSE: SMR) and Nucor Corporation (Nucor) today announced the two companies have signed a Memorandum of Understanding (MOU) to explore co-locating NuScale's VOYGR™ small modular nuclear reactor (SMR) power plants to provide clean, reliable baseload electricity to Nucor’s scrap-based Electric Arc Furnace (EAF) steel mills.
  • The companies will also explore an expanded manufacturing partnership through which Nucor, the largest steel producer and recycler of any type of material in North America, would supply EconiqTM, its net-zero steel products, for NuScale projects.
  • In addition, NuScale will study the feasibility of siting a manufacturing facility for NuScale Power Modules™ near a Nucor facility.
  • The U.S. Department of Energy has identified emissions reductions in the steel manufacturing industry as an important step to reach net-zero by 2050.

Algoma Steel Appoints EllisDon as Construction Manager for Electric Arc Furnace Project

Retrieved on: 
Monday, March 13, 2023

MARIE, Ontario, March 13, 2023 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or the “Corporation”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced the appointment of EllisDon as Construction Manager for completion of its transformative Electric Arc Furnace (EAF) project.

Key Points: 
  • MARIE, Ontario, March 13, 2023 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or the “Corporation”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced the appointment of EllisDon as Construction Manager for completion of its transformative Electric Arc Furnace (EAF) project.
  • EllisDon brings over 70 years of industrial and civil construction management expertise and experience to the project bolstering Algoma’s internal project team as Algoma’s EAF facility continues to progress.
  • “We are very proud to join Algoma's team in one of Canada's largest electrification projects targeting reduced carbon emissions.
  • Michael Garcia, Algoma’s CEO said, “Our transformative Electric Arc Furnace project continues to advance on time and on budget, and as we enter the more complex phases of construction, we are pleased to partner with EllisDon to manage our project with optimal functionality and effectiveness.