2023-06-27 17:43:30 ET
Low-emission steel products are " the fastest moving part of our industry today ," Nucor ( NYSE: NUE ) CEO Leon Topalian told the Global Steel Dynamics Forum in New York on Tuesday.
Original equipment manufacturers and automotive industry participants are "demanding a cleaner product," Topalian said, according to S&P Global Platts.
The CEO's comments were similar to remarks made by Steel Dynamics ( STLD ) CFO Theresa Wagler at the same conference that the industry needs global carbon standards for green steel .
A lack of a global standard is reducing the ability of lower carbon steel producers to take advantage and see financial gain from a premium price from green initiatives, Wagler said, according to Argus.
Topalian also noted Nucor's ( NUE ) Brandeburg, Kentucky, plate mill facility, which began operations earlier this year, is ideally positioned as the only plate mill "capable in the Western Hemisphere [of] making monopile sections for offshore wind," adding he expects the facility to be profitable by the end of this year.
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Nucor CEO sees growing demand for low-emissions steel