The CEO of SSAB said Jan. 13 that access to fossil-free electricity and an appropriate regulatory framework are essential to the company’s ability to start deliveries of low-carbon steel from 2026.
Speaking as part of a panel discussion associated with the European Commission and Swedish government’s visit to Kiruna, Sweden, SSAB CEO Martin Lindqvist stated that EU member states have much to gain from a competitive and green EU and noted the importance of policy mechanisms like the Carbon Border Adjustment Mechanism, or CBAM, and the EU Emissions Trading Scheme, or ETS, in strengthening green competitiveness.
“We need both a green competitive market in Europe and a green transatlantic market,” Lindqvist said.
According to a statement from SSAB, the panel discussion also included the CEO’s of LKAB, Volvo Group, Northvolt and Boliden.
In January 2022, SSAB’s board of directors decided that it would seek to largely eliminate the company’s carbon dioxide emissions by around 2030.
“However, to succeed we will need access to fossil-free electricity, hydrogen and biocarbons,” said Lindqvist.
The statement from SSAB’s CEO follows an announcement Jan. 9 that the company signed a letter of intent with Swedish steel distributor Stena Stål making it the first external distributer to deliver low-carbon steel to the Swedish market beginning in 2026.
“I am happy to welcome Stena Stål as a fossil-free steel partner. Together, we are contributing to reduced carbon dioxide emissions when we introduce fossil-free steel to the Swedish market,” said SSAB head of sales for Sweden and Norway Matts Nilsson.
“This is very important for our customers and we aim to reduce our CO2 footprint by 50% already by 2030 and by 100% in 2045,” said Stena Stål managing director Stefan Svensson.
Platts, part of S&P Global Commodity Insights, assessed hot-rolled coil in Northwest Europe at Eur710/mt ex-works Ruhr Jan. 12, up from Eur650/mt at the beginning of November 2022.
— Euan Sadden