Kallanish Steel Weekly: US steel executive believes EAFs will find enough ferrous scrap

Kallanish Steel Weekly: US steel executive believes EAFs will find enough ferrous scrap (July 4, 2023)

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It is a fallacy that the world’s steel industry will run out of ferrous scrap feedstocks in the transition to electric arc furnaces, according to the top executive at Steel Dynamics.

Speaking at the Global Steel Dynamics Forum in New York on 27 June, Steel Dynamics chairman and ceo Mark Millett agreed that scrap will be in great demand. Pricing likely will be an issue in various regions.

“I’m a strong believer that there isn’t going to be a shortage,” Millett said. “There’s no doubt there will be tightness. The tightness will drive the price up. There’s no doubt about that.”

Aside from its EAF steelmaking, Steel Dynamics is an operator of scrap businesses after acquiring two Mexican firms, Roca Acero and Zimmer SA, since 2020.

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Kallanish Steel Weekly: US steel executive believes EAFs will find enough ferrous scrap (July 4, 2023)

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