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Read our latest steel market analysis, including developments in Scope 1, 2 and 3 emissions, green steel premiums, market forecasts and more
Major Asian steelmakers have been striving to develop decarbonization technologies for the current blast furnace-basic oxygen furnace (BF-BOF) steelmaking, given the global green steel production drive and large number of existing blast furnaces built in recent years.
The growth is largely expected to be driven by stricter environmental regulations, increasing pressure from consumers and investors for sustainable products, and the region’s commitment to achieving carbon neutrality, according to sources.
The biggest threat to keeping carbon emissions low in the steel industry is imports flowing in from regions where there is a lack of focus on emissions reduction, Kevin Dempsey, president and chief executive officer of the American Iron and Steel Institute, said at Fastmarkets’ second annual Circular Steel Summit on Wednesday January 15 in Houston, Texas.
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