MT - ArcelorMittal to supply recycled and renewably produced steel to General Motors

2023-06-06 19:35:23 ET

ArcelorMittal ( NYSE: MT ) said Tuesday it will supply General Motors ( GM ) with its XCarb recycled and renewably produced steel, which offers significantly lower carbon emissions compared to much of the carbon steel available in North America; deal terms were not disclosed.

The steelmaker said it will supply material from ArcelorMittal Dofasco in Hamilton, Ontario, and shipments are expected to begin in the current quarter.

XCarb RRP steel is made via electric arc furnace and contains a stated minimum of 70% scrap, with up to 90% scrap, and does not use carbon offsets to achieve the reduced carbon intensity, the company said.

ArcelorMittal ( MT ) has said it is committed to reducing the carbon intensity of the steel it produces by 25% globally by 2030 and achieving carbon neutrality by 2050.

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