US EditionGreener steel arrives in Canada to a market in turmoil and future unclear
ONTARIO, CANADA, AUG 10 – Algoma Steel advances green steel with $420 million aid despite U.S. tariffs and uncertain demand; cleaner steel premiums mostly limited to the auto sector, experts say.
- Algoma Steel Inc. has begun producing greener steel using electric currents, trademarked as Volta, to reduce emissions.
- European automakers pay a premium of 40% for cleaner steel, but the building sector is more hesitant, according to trade expert Tommaso Ferretti.
- Both Algoma and ArcelorMittal face economic challenges, with ArcelorMittal canceling projects in Germany due to high electricity prices.
- Algoma received $420 million for its project, while ArcelorMittal was offered $900 million to offset costs, highlighting industry investment pressures.
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27 Articles
Winnipeg Free Press+23 Reposted by 23 other sources
Greener steel arrives in Canada to a market in turmoil and future unclear
Breaking News, Sports, Manitoba, Canada
·Winnipeg, Canada
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Coverage Details
Total News Sources27
Leaning Left16Leaning Right1Center4Last UpdatedBias Distribution76% Left
Bias Distribution
- 76% of the sources lean Left
76% Left
L 76%
C 19%
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