St. Louis based raw material supplier, VALYNT has launched a new, low copper shredded steel material for use in the steel industry.
The new raw material will be supplied for mill applications such as coils and bars along with providing for several other steel mill products amid record-high supply and demand.
The company shared with Davis Index that it currently supplies more than 1,500gt of the low copper shredded material per month and expects to hit 6,000gt per month within the next 60 days.
The shredded application was built by VALYNT as a low-cost scrap substitute to spur the current, surging steel market and is already in use by steel companies.
The new product arrives as steel production struggles to meet growing demand, while global manufacturing is seeing an overall strong recovery. Relatedly, iron ore inventories have been low as the commodity has been in a bull market with dramatically rising prices on strong steel demand.
The growing supply chain firm focuses on iron, steel, and aluminum production, along with crude oil products in bulk volumes. Additionally, the company supplies hot briquetted iron (HBI) and also provides carbon, along with scrap metal logistics for the government or private sector.
VALYNT’s current HBI volumes are available every month by full barge and based on client feedback the provider will be quadrupling its available supply over the next two months. Volumes will then surpass 6,000gt per month the company said. VALYNT added that they are one of the only direct national suppliers of HBI.
Global raw materials users are comprised of iron and steel producers, oil refineries, as well as zinc and copper smelters.