ArcelorMittal said a new auto frame can cut the weight of a pickup chassis by almost a quarter, the latest step by the largest steelmaker to compete with aluminum for use in energy-efficient vehicles.
The company’s new range of steel products for automakers can save as much as 384 pounds (174 kilograms), or 23% of the weight, of a pickup’s cab, box, frame and closures, it said yesterday. Such a reduction would ensure pickups meet European Union emission standards and similar rules being developed in the US, Luxembourg-based ArcelorMittal said.
Competition between steel and aluminum “has intensified,” Lou Schorsch, ArcelorMittal’s chief executive officer for the Americas, said in an interview with Bloomberg News recently at the company’s jointly owned plant in Calvert, Alabama. “We give as good as we get.”
Chinese steel prices were flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.83) and a low price of CNY 830.00 ($134.22) per dry metric ton. The price of Chinese HRC held steady at CNY 3,030 ($489.97) per metric ton. The price of Chinese coking coal remained essentially flat at CNY 1,390 ($224.77) per metric ton.
The cash price of steel billet remained essentially flat on the LME at $450.00 per metric ton. The steel billet 3-month price continues hovering around $455.00 per metric ton on the LME for the fifth day in a row.
The US HRC futures contract 3-month price showed little movement on Monday, hovering around $639.00 per short ton. The spot price of the US HRC futures contract saw little change in its price on Monday at $663.00 per short ton.