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Greener steel arrives in Canada to a market in turmoil and future unclear
ONTARIO, CANADA, AUG 10 – Algoma Steel advances green steel with $420 million aid despite U.S. tariffs and uncertain demand; cleaner steel premiums mostly limited to the auto sector, experts say.
- Algoma Steel Inc. has begun producing greener steel using electric currents, trademarked as Volta, to reduce emissions.
- European automakers pay a premium of 40% for cleaner steel, but the building sector is more hesitant, according to trade expert Tommaso Ferretti.
- Both Algoma and ArcelorMittal face economic challenges, with ArcelorMittal canceling projects in Germany due to high electricity prices.
- Algoma received $420 million for its project, while ArcelorMittal was offered $900 million to offset costs, highlighting industry investment pressures.
29 Articles
29 Articles
Greener steel arrives in Canada to a market in turmoil and future unclear - MRO Magazine
Like some superhero channelling the power of lightning, Algoma Steel Inc. has started using the heat cast off by the arcs of powerful electric currents to make greener steel. Electric arc furnaces are nothing new — the technology is more than a century old, and there’s already a few in Canada — but Algoma is calling the achievement of production from its first of the kind furnace last month a win as it faces an existential threat from U.S. tarif…
Winnipeg Free Press
Greener steel arrives in Canada to a market in turmoil and future unclear
Breaking News, Sports, Manitoba, Canada
Cdn. Green Steel Projects Face Tariff Pressures - Canadian Manufacturing
Like some superhero channelling the power of lightning, Algoma Steel Inc. has started using the heat cast off by the arcs of powerful electric currents to make greener steel. Electric arc furnaces are nothing new — the technology is more than a century old, and there’s already a few in Canada — but Algoma is calling the achievement of production from its first of the kind furnace last month a win as it faces an existential threat from U.S. tarif…
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