Latest news with #steelproduction
Bloomberg
13 hours ago
- Business
- Bloomberg
Startup Claims Its Green Steel Will Be Cheaper Than Regular Steel
A startup backed by tech billionaires Bill Gates and Vinod Khosla says it has successfully tested a new approach for making steel that minimizes planet-warming emissions without raising costs above traditional steel. Hertha Metals, based in Conroe, Texas, says it now can produce one ton of green steel per day in a pilot facility outside Houston that takes fewer steps and resources than existing methods. While the volume is insignificant, the startup describes the output as a crucial milestone for a technology that's only a few years old.
Reuters
6 days ago
- Business
- Reuters
China's mixed commodity data sees soft steel, strong iron ore
LAUNCESTON, Australia, July 17 (Reuters) - China's industrial output and commodity import data for June has thrown up contrasting numbers that add to the challenge of getting an accurate reading on the state of the world's second-biggest economy. Steel production and iron ore imports appear to tell contrasting stories, with steel weakening in June but imports of the key raw material surging to the highest this year. Coal output has increased by 5% in the first six months of the year compared to the same period in 2024, but thermal power generation, which is mainly coal-fired, dropped 2.4% in the first half. Aluminium output rose 3.4% in June from a year earlier and by 3.3% in the first half, but construction materials such as cement and glass both dropped by 5% in June. Part of decoding the seemingly mixed signals from the data is working out whether the numbers are part of longer-term trends, or driven by short-term factors. China's crude steel output fell 3.9% in June from May and by 9.2% from the same month in 2024, which was the largest year-on-year drop since August. The world's largest steel producer manufactured 83.18 million metric tons of crude steel last month, which took first half output to 514.83 million tons, a decline of 3% from the same period last year. Softer steel output fits with the narrative of a still struggling residential construction sector, but it doesn't explain why iron ore imports have been robust. China, which buys about 75% of global seaborne iron ore, saw arrivals jump by 8% in June from May, with imports of 105.95 million tons, the strongest month so far in 2025. However, iron ore imports are down by 3% in the first half of 2025 to 592.21 million tons. Prices explain some of the recent strength in iron ore imports, with Singapore Exchange contracts showing a declining trend since reaching the highest so far in 2025 of $107.81 a ton on February 12. They dropped as low as $93.35 on July 1, but have since recovered to end at $97.95 on Wednesday amid optimism that Beijing's stimulus measures will boost second-half steel demand. However, if annual steel output is to remain around the informal 1 billion tons cap, this implies that second-half production will be weaker than the first half's 514.83 million tons. There is still scope to build iron ore inventories, with port stockpiles monitored by consultants SteelHome dropping to 131.9 million tons in the week to July 11, down from 150.02 million in the same week last year. Another seeming contradiction is coal production, which rose 5% in the first six months of 2025 to 2.4 billion tons. The main use for China's domestic coal is power generation, and thermal power, which is overwhelmingly coal-fired with only a small amount of natural gas, dropped by 2.4%. Total power generation rose 0.8% in the first half, and given that hydropower also dropped by 2.9% it's clear that the rapid deployment of renewables such as wind and solar increased their share. Why would China want to produce record volumes of coal at a time when consumption is falling? There are two main reasons, the first being that it ensures that domestic coal prices remain relatively low, which keeps downward pressure on electricity costs at a time when major power users such as manufacturers are facing uncertainty from the trade war with the United States. The price of thermal coal at Qinhuangdao dropped to a four-year low of 610 yuan ($84.96) in June and while it recovered to 625 yuan on Wednesday, it is still down almost 20% from its 2025 high of 775 yuan in early January. The second benefit from higher domestic coal output is that it cuts the needs for supplies from overseas, and because China is the world's largest importer this means that seaborne prices have been under pressure. Enjoying this column? Check out Reuters Open Interest (ROI), your essential new source for global financial commentary. ROI delivers thought-provoking, data-driven analysis of everything from swap rates to soybeans. Markets are moving faster than ever. ROI can help you keep up. Follow ROI on LinkedIn, opens new tab and X, opens new tab. The views expressed here are those of the author, a columnist for Reuters.
Yahoo
14-07-2025
- Business
- Yahoo
Port Talbot moves towards arc furnace future with groundbreaking ceremony
Port Talbot's steelworks will mark the beginning of its move towards green steel production on Monday. Ministers will join Tata Steel chiefs at the South Wales steel plant for a groundbreaking ceremony to mark the beginning of the new electric arc furnace's construction. Natarajan Chandrasekaran, chairman of Tata Steel and the Tata Group, described the moment as an 'important day for Tata Group, Tata Steel and for the UK'. He added: 'At Port Talbot, we are building the foundations of a cleaner, greener future, supporting jobs, driving innovation and demonstrating our commitment to responsible industry leadership.' The Government has backed plans for the new £1.25 billion electric arc furnace at the Tata steelworks with a £500 million investment. The switch-on is due to take place in 2027 as part of the push towards greener production. Tata insists the move will cut Port Talbot's emissions by 90%, while ensuring the future of steel production in the town. The plant's last blast furnace was shut down in September 2024, with 2,500 workers to lose their jobs in the aftermath. The new electric arc furnace will be able to process scrap steel, but is not able to make virgin steel as a blast furnace can. Some MPs have said workers in South Wales have been let down in comparison with those retaining jobs in Scunthorpe, where ministers took control of the steelworks to prevent the closure of its blast furnaces. The Government has said the two steelworks were in different situations. Business Secretary Jonathan Reynolds said: 'This is our industrial strategy in action and is great news for Welsh steelmaking, backing this crucial Welsh industry, which will give certainty to local communities and thousands of local jobs for years to come. 'This Government is committed to a bright future for our steel industry, which is why we provided £500 million of funding to make this project possible.' Secretary of State for Wales Jo Stevens said the new furnace would help to realise 'the promise we made to the community, while the development of floating offshore wind, plans for a Celtic Freeport and millions more for local regeneration all mean that Port Talbot has a bright future'. First Minister of Wales Eluned Morgan said: 'This is a momentous day for heavy industry in Wales, as the electric arc furnace has secured the long-term future of steel making at Port Talbot. 'Seeing spades in the ground today provides a tangible sign of Tata's intention to continue producing steel in the area, an industry which has provided quality jobs to local people for generations.' Steelworkers' union Community described the groundbreaking ceremony as 'bittersweet'. Community assistant general secretary Alasdair McDiarmid said: 'This bittersweet day is a consequence of the devastating closure of the blast furnaces, but importantly a future for Port Talbot steelmaking is being secured. The workforce needs the electric arc furnace project to be both a success and a turning point, and we look forward to playing our part to get the new furnace up and running. 'Today should represent the first step towards rebuilding our steel industry and creating new high-quality jobs for our steel communities. Going forward we must see further investment to develop and grow the business, both here in Port Talbot and across all the crucial downstream sites. 'It was also good to see the Secretary of State in Port Talbot today, and we will continue to hold talks with Government on their plans to safeguard and co-invest in our steel industry. The UK needs a strong and resilient steel sector now more than ever, and steel should be the cornerstone of a national industrial strategy fit for the future.' Error in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
14-07-2025
- Business
- Yahoo
Port Talbot moves towards arc furnace future with groundbreaking ceremony
Port Talbot's steelworks will mark the beginning of its move towards green steel production on Monday. Ministers will join Tata Steel chiefs at the South Wales steel plant for a groundbreaking ceremony to mark the beginning of the new electric arc furnace's construction. Natarajan Chandrasekaran, chairman of Tata Steel and the Tata Group, described the moment as an 'important day for Tata Group, Tata Steel and for the UK'. He added: 'At Port Talbot, we are building the foundations of a cleaner, greener future, supporting jobs, driving innovation and demonstrating our commitment to responsible industry leadership.' The Government has backed plans for the new £1.25 billion electric arc furnace at the Tata steelworks with a £500 million investment. The switch-on is due to take place in 2027 as part of the push towards greener production. Tata insists the move will cut Port Talbot's emissions by 90%, while ensuring the future of steel production in the town. The plant's last blast furnace was shut down in September 2024, with 2,500 workers to lose their jobs in the aftermath. The new electric arc furnace will be able to process scrap steel, but is not able to make virgin steel as a blast furnace can. Some MPs have said workers in South Wales have been let down in comparison with those retaining jobs in Scunthorpe, where ministers took control of the steelworks to prevent the closure of its blast furnaces. The Government has said the two steelworks were in different situations. Business Secretary Jonathan Reynolds said: 'This is our industrial strategy in action and is great news for Welsh steelmaking, backing this crucial Welsh industry, which will give certainty to local communities and thousands of local jobs for years to come. 'This Government is committed to a bright future for our steel industry, which is why we provided £500 million of funding to make this project possible.' Secretary of State for Wales Jo Stevens said the new furnace would help to realise 'the promise we made to the community, while the development of floating offshore wind, plans for a Celtic Freeport and millions more for local regeneration all mean that Port Talbot has a bright future'. First Minister of Wales Eluned Morgan said: 'This is a momentous day for heavy industry in Wales, as the electric arc furnace has secured the long-term future of steel making at Port Talbot. 'Seeing spades in the ground today provides a tangible sign of Tata's intention to continue producing steel in the area, an industry which has provided quality jobs to local people for generations.' Steelworkers' union Community described the groundbreaking ceremony as 'bittersweet'. Community assistant general secretary Alasdair McDiarmid said: 'This bittersweet day is a consequence of the devastating closure of the blast furnaces, but importantly a future for Port Talbot steelmaking is being secured. The workforce needs the electric arc furnace project to be both a success and a turning point, and we look forward to playing our part to get the new furnace up and running. 'Today should represent the first step towards rebuilding our steel industry and creating new high-quality jobs for our steel communities. Going forward we must see further investment to develop and grow the business, both here in Port Talbot and across all the crucial downstream sites. 'It was also good to see the Secretary of State in Port Talbot today, and we will continue to hold talks with Government on their plans to safeguard and co-invest in our steel industry. The UK needs a strong and resilient steel sector now more than ever, and steel should be the cornerstone of a national industrial strategy fit for the future.'
The Independent
14-07-2025
- Business
- The Independent
Port Talbot moves towards arc furnace future with groundbreaking ceremony
Port Talbot's steelworks will mark the beginning of its move towards green steel production on Monday. Ministers will join Tata Steel chiefs at the South Wales steel plant for a groundbreaking ceremony to mark the beginning of the new electric arc furnace's construction. Natarajan Chandrasekaran, chairman of Tata Steel and the Tata Group, described the moment as an 'important day for Tata Group, Tata Steel and for the UK'. He added: 'At Port Talbot, we are building the foundations of a cleaner, greener future, supporting jobs, driving innovation and demonstrating our commitment to responsible industry leadership.' The Government has backed plans for the new £1.25 billion electric arc furnace at the Tata steelworks with a £500 million investment. The switch-on is due to take place in 2027 as part of the push towards greener production. Tata insists the move will cut Port Talbot's emissions by 90%, while ensuring the future of steel production in the town. The plant's last blast furnace was shut down in September 2024, with 2,500 workers to lose their jobs in the aftermath. The new electric arc furnace will be able to process scrap steel, but is not able to make virgin steel as a blast furnace can. Some MPs have said workers in South Wales have been let down in comparison with those retaining jobs in Scunthorpe, where ministers took control of the steelworks to prevent the closure of its blast furnaces. The Government has said the two steelworks were in different situations. Business Secretary Jonathan Reynolds said: 'This is our industrial strategy in action and is great news for Welsh steelmaking, backing this crucial Welsh industry, which will give certainty to local communities and thousands of local jobs for years to come. 'This Government is committed to a bright future for our steel industry, which is why we provided £500 million of funding to make this project possible.' Secretary of State for Wales Jo Stevens said the new furnace would help to realise 'the promise we made to the community, while the development of floating offshore wind, plans for a Celtic Freeport and millions more for local regeneration all mean that Port Talbot has a bright future'. First Minister of Wales Eluned Morgan said: 'This is a momentous day for heavy industry in Wales, as the electric arc furnace has secured the long-term future of steel making at Port Talbot. 'Seeing spades in the ground today provides a tangible sign of Tata's intention to continue producing steel in the area, an industry which has provided quality jobs to local people for generations.' Steelworkers' union Community described the groundbreaking ceremony as 'bittersweet'. Community assistant general secretary Alasdair McDiarmid said: 'This bittersweet day is a consequence of the devastating closure of the blast furnaces, but importantly a future for Port Talbot steelmaking is being secured. The workforce needs the electric arc furnace project to be both a success and a turning point, and we look forward to playing our part to get the new furnace up and running. 'Today should represent the first step towards rebuilding our steel industry and creating new high-quality jobs for our steel communities. Going forward we must see further investment to develop and grow the business, both here in Port Talbot and across all the crucial downstream sites. 'It was also good to see the Secretary of State in Port Talbot today, and we will continue to hold talks with Government on their plans to safeguard and co-invest in our steel industry. The UK needs a strong and resilient steel sector now more than ever, and steel should be the cornerstone of a national industrial strategy fit for the future.'
