US Steel considers pig iron project

US Steel is mulling over the possibility of adding pig iron equipment to one of its blast furnaces, a top executive said during an earnings call on Friday July 30.

Analysts asked executives at US Steel about its subsidiary Big River Steel’s raw materials strategy during a second-quarter earnings call. “The thing that keeps mini-mills up at night is their metallic strategy and where are they going to get the scrap and the iron ore longer term,” US Steel president and chief executive officer David Burritt said on Friday’s call. “The good news for us is being vertically integrated and having this world-class mine site. We have the opportunity to create a [pigging] machine,” Burritt said. “We have several locations that it's possible to do that with. And that's certainly… something that's under discussion.” The acquisition of Big River Steel - an Osceola, Arkansas-based electric-arc furnace (EAF) steelmaker - increased the Pittsburgh, Pennsylvania-based steelmaker’s annual raw steel production capability by 3.30 million net tons...

Published

Rijuta Dey Bera

August 02, 2021

21:47 GMT

New York