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SSAAY Ssab Swedish Steel (PK)

2.844
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Ssab Swedish Steel (PK) USOTC:SSAAY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.00 0.00% 2.844 1.85 3.85 6 21:14:29

SSAB to Deliver 'Fossil-Free' Steel to Epiroc for Mining Equipment

11/04/2022 9:33am

Dow Jones News


Ssab Swedish Steel (PK) (USOTC:SSAAY)
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By Dominic Chopping

 

STOCKHOLM--Swedish steelmaker SSAB AB said Monday it will deliver fossil-free steel to Epiroc AB for use in mining equipment production.

The company said Epiroc will initially use the steel, which is produced without carbon dioxide emissions, for a prototype underground machine produced at its facility in Orebro, Sweden, and the plan is to increase use of fossil-free steel over time.

SSAB aims to deliver fossil-free steel to the market in commercial scale during 2026, having delivered the first steel made of hydrogen-reduced iron in 2021.

SSAB works with iron-ore producer LKAB and energy company Vattenfall Group as part of the Hybrit initiative to develop a value chain for fossil-free iron- and steel production, replacing coking coal traditionally needed for iron ore-based steelmaking, with fossil-free electricity and hydrogen.

 

Write to Dominic Chopping at dominic.chopping@wsj.com

 

(END) Dow Jones Newswires

April 11, 2022 04:18 ET (08:18 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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