Swedish specialty steel producer SSAB has secured a long-term supply of low-carbon ferromolybdenum through a binding off-take agreement with Canada-based mining company Greenland Resources.
The agreement ensures access to high-quality material extracted in Greenland and refined in Belgium, supporting SSAB’s strategy to enhance supply chain sustainability.
Key input for high-performance steel
Under the deal, pricing will be structured within a defined floor and ceiling range, providing both price stability and supply security.
The agreement enables SSAB to source primary molybdenum with low Scope 1 and Scope 2 emissions from an EU-associated country. This aligns with the company’s broader decarbonization targets and its focus on reducing the carbon footprint of steel production.
The low-carbon ferromolybdenum will be used in the production of advanced high-strength steels. These materials are critical for demanding applications across sectors such as defense, automotive, infrastructure and energy, where performance and durability requirements are high.