According to reports, U.S. steel companies are injecting billions of dollars into new low-carbon steel production as emissions standards tighten worldwide. Recent announcements indicate more steel manufacturers plan to expand production into mini-mills that use electric arc furnaces instead of coal-fired furnaces.
Meanwhile, two-thirds of the iron and steel produced in the U.S. is made from recycled scrap, rather than iron ore. According to steel.org, North American steel-making furnaces “consume nearly 70 million tons of domestic steel scrap in the production of new steel” — and for every ton of steel recycled, 2,500 pounds of iron ore, 1,400 pounds of coal, and 120 pounds of limestone are conserved. 10/20/2021