Blog

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

Samsung Electronics expects to post its highest operating profit in three years on the back of high demand for memory chips used in artificial intelligence, after several quarters of tepid growth fuelled concerns it was losing ground to rivals.

The tech conglomerate on Tuesday said operating profit in the quarter ending in September rose more than 30 per cent compared with a year ago to Won12.1tn ($8.5bn).

The figure is significantly higher than the Won9.7tn forecast by analysts as compiled by Bloomberg.

Samsung’s shares rose as much as 3 per cent to a record high of Won97,500 on Tuesday. The company’s stock has rallied more than 66 per cent in the past six months as a result of the AI boom.

The South Korean chipmaker this month signed a letter of intent with OpenAI to supply semiconductors for the ChatGPT maker’s $500bn Stargate data centre project.

Samsung accounts for just over a quarter of the global market for high-bandwidth memory products, which are used in Nvidia’s most advanced AI chips, with SK Hynix and US-based Micron the other leading groups in the sector, according to consultancy TrendForce.

The numbers were released in an earnings guidance and were not broken down by division. The company expects to deliver full earnings at the end of this month.

The Steelie Awards recognise member companies for their contribution to the steel industry over a one-year period. The selection process for the shortlist varies between awards. In most cases the submissions are requested via the appropriate worldsteel committee. Entries are then judged by selected independent expert panels. The winners and judges for each award are listed below.

 

Excellence in low-carbon steel production:

EMSTEEL – Pioneering low-carbon steel: EMSTEEL’s multi-lever net-zero strategy

Judges:

• Paul Brooks, Bekaert/Consultant
• Ian Cameron, Principal Metallurgist, Ferrous, Hatch
• Feng Liu, Process Pyrometallurgist, Pyrometallurgy, Hatch
• Henk Reimink, Consultant
• Neil Rose, Process Engineering Trainee, Pyrometallurgy, Hatch
• Prof. Yansong Shen, Director, SCoPE Lab for Green Metals, University of New South Wales
• Beth Valiaho, Consultant
• Professor Aidon Yang, University of Oxford

 

Innovation of the year:

InfraBuild – SENSE 600: Innovative lower-embodied carbon reinforcing steel solution

Judges:

 

Excellence in sustainability:

Ternium – Winds of change: Ternium’s first step into renewable energy in Argentina

 Judges:

• Luiz Cláudio Allemand, Lawyer, Independent
• -Ing Sabina Grund, Associate Director Sustainable Development, International Zinc Association
• Danhak Gu, Policy Analyst, OECD
• Gordon Peeling, Director, Great Quest
• Professor Runa Sarkar, Indian Institute of Management Calcutta
• Jim Woods, Corporate Affairs, O-I Glass

 

Excellence in Life Cycle Assessment:

HBIS Group Co., Ltd. – “LCA+Life Well-Being Index” Collaborative Evaluation System: Innovating to driving marketing and application of metal decorative products.

Judges:

 

Excellence in people:

ArcelorMittal – Integration of army veterans and supporting the families of fallen employees

Judges:

 

Excellence in communications programmes:

ArcelorMittal – The Paris 2024 Olympic and Paralympic Games

 Judges:

• Silvia Antonioli, Founder & Head of Content, Momo Media
• Andrew Baud, Founder & Chief Executive, TALA
• Sally Eggeling, Partner, Studio Lead, Omnicom Production
• Ian Higginson, Founder, Creative Director, MakeAlias
• John Stokes, CEO, CentreBlue

#Ends#

Notes

The World Steel Association (worldsteel) is one of the largest and most dynamic industry associations in the world, with members in every major steel-producing country. worldsteel represents steel producers, national and regional steel industry associations, and steel research institutes. Members represent around 85% of global steel production.