By Dominic Chopping

STOCKHOLM--Swedish steelmaker SSAB said Thursday that it has signed a letter of intent with Sandvik to supply fossil-free steel for use in the production of loaders and trucks.

SSAB's fossil-free steel replaces the coking coal traditionally used for iron ore-based steelmaking with fossil-free electricity and hydrogen. It aims to deliver fossil-free steel to the market at commercial scale during 2026, and the letter of intent ensures Sandvik secures its required volumes from SSAB's production capacity.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

November 02, 2023 08:14 ET (12:14 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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