Morgan Stanley | ArcelorMittal has announced the acquisition of the steel recycling firm, John Lawrie Metals, for an as yet undisclosed price. The transaction is part of the former’s strategy to increase the use of scrap steel to reduce the emissions from its steel operations. The company which has been bought operates 4 sites in Scotland which recycle steel for the UK’s oil and gas industry, with a total capacity to process almost 0.2 million tonnes per year. We believe this deal is favourable for ArcelorMittal And we hope it maintains its strategy for the supply of raw materials, key to its decarbonisation: -25% emissions for 2025 and zero net emissions for 2050.
