Swedish specialty steel producer SSAB has secured long-term supplies of low-carbon ferromolybdenum through a binding supply agreement with Canadian miner Greenland Resources.
The agreement provides access to high-quality material mined in Greenland and processed in Belgium, supporting SSAB's strategy to improve chain sustainability supplies.
Steel is key to high performance
The deal will structure prices within a defined lower and upper range, ensuring both price stability and security of supply.
The agreement allows SSAB to purchase low-emission primary molybdenum category 1 and category 2 from a country associated with the EU. This is in line with the company's broader decarbonization goals and its focus on reducing carbon emissions from steel production.
Low-carbon ferromolybdenum will be used in the production of advanced high-strength steels. These materials are critical for demanding applications in sectors such as defense, automotive, infrastructure and energy, where performance and durability requirements are high.
