Policymakers in Europe need to follow a “steel action plan” to a avert a crisis in steelmaking, the European steel industry association Eurofer said this week

Steelmakers that lag behind in decarbonization will be first to be phased out after green steel capacity rises to meet future demand, a senior advisor from a major Chinese steel company told delegates at the China Steel Industry Summit for 2025.

Cleveland-Cliffs expects 2025 to be a strong year for the company, citing decreasing interest rates, certainty after the US elections and an increase in manufacturing onshoring, top executives said in the company’s third-quarter earnings call on Tuesday November 5.

China’s ferro-alloy industry continues to track toward sustainable development, focusing on decarbonization as a foundation and utilizing renewable energy and advanced technologies to reduce electricity consumption, waste gas and slag.

The European Commission has committed €4.8 billion from emissions trading revenues to support 85 innovative net zero projects through its Innovation Fund, raising its total investment to €12 billion.

The Western world’s industrial strength is beginning to drop, but Jakob Stausholm, chief executive officer of Rio Tinto, said at a London Metal Exchange seminar that there was “plenty of demand to be unlocked from reindustrialization.”

Fastmarkets heard from green steel producers, buyers and stakeholders at the annual Climate Week NYC event, held from September 22 to September 29

New mining frontiers were emerging but, ahead of the London Metal Exchange’s LME Week event, industry executives have warned of a supply squeeze, with regulatory hurdles and the costs of being ‘green’ hindering the production of copper and other critical minerals

Middle Eastern steelmakers are ramping-up their efforts to reduce carbon emissions, taking several bold steps toward this goal

The European Commission plans to boost the EU’s clean energy transition with an investment of €720 million ($802 million) into its hydrogen sector, while the battery sector continues to grapple with a €19 billion trade deficit, Fastmarkets has heard