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ArcelorMittal, a global steelmaker is aiming to introduce a premium on new European contracts for high-quality wire rod produced using direct reduced iron (DRI). Recently, the company is the only European producer of high quality steel with an integrated DRI-EAF plant in Hamburg, which operates on Midrex technology.
The use of DRI in the production of high-quality products will raise their value in the future. The amount of the surcharge will be discussed with customers on a case-by-case basis, depending on the extent to which DRI is used in the order.
ArcelorMittal Hamburg’s annual DRI production capacity reaches 700 thousand tonnes, and steel production capacity reaches 1 million tonnes everyday.
ArcelorMittal decreased steel production by 1.5% in 2023 compared to 2022, to 58.1 million tonnes. Iron ore production decreased by 7.3% y/y – to 42 million tonnes.
Steel shipments for the year decreased by 0.5% y/y – to 55.6 million tonnes, and iron ore (AMCC and Liberia only) – by 5.7% y/y, to 26.4 million tonnes. ArcelorMittal is a leading global steel and mining company with operations in 60 countries and production assets in 18 countries.
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