Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Steel manufacturer Nucor has introduced its plan for cutting greenhouse gas (GHG) emissions with a target amount of 77pc fewer emissions from its steel plants, as compared to present, average global volumes.


The steelmaker’s output comes entirely from recycled, scrap-fed electric arc furnaces and the company’s current steel production contains under half of the per ton GHG emissions compared with 2030 concentration targets set for the steel industry by the Transition Pathways Initiative under the Paris Climate Agreement.


Nucor is planning an extra 35pc collective drop in the amount of scope 1 and scope 2 GHG emissions at its steel plants by 2030. The goal will be quantified by 2015 standards when the Paris Climate Agreement was approved. 


The producer’s current GHG emissions stand at 0.47nt of CO2 per steel ton versus 1.69nt, the global average, and 2.15nt, the average for integrated steel production. Nucor’s emissions amount from mills will fall to 0.38nt of CO2 per steel ton by 2030. Nucor plans to cut more GHG emissions targeting net-zero emission steelmaking after 2030.


The steel producer will also employ new energy efficiency projects, take up carbon capture with storage, and investigate additional GHG emissions reduction from its raw materials. Moreover, the company still invests in new recycled steel sites to build infrastructure for improved, clean energy in the US. 


The Nucor steel plate plant in Brandenburg, Kentucky is slated to support the offshore wind market’s towers and foundations. Also, the tube mill project in Kentucky will supply galvanized solar torque tubes for growing solar energy markets. 


To add, the manufacturer is funding the production of 3rd generation advanced high-strength steel (AHSS) for autos to sustain improved mileage and cut lifecycle emissions. Previously AHSS products were produced by blast furnaces. AHSS vehicles have fewer lifecycle emissions compared to autos made mostly from aluminum.


Leave a Reply

Your email address will not be published.