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https://www.metal bulletin.com/Article/5083630/Latest-news/Traditional-blast-furnace-based-steelmakers-need-to-adapt-to-remain-relevant-Gunung-Capital.html
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"Traditional blast furnace-based steelmakers will need to adapt quickly to the burgeoning decarbonization movement in Asia to remain relevant, Gunung Capital managing partner Kelvin Fu told Fastmarkets in an interview.

Fu believes that the fastest way to reduce emissions levels for most steel mills is to convert from traditional blast furnaces (BFs) to electric-arc furnaces (EAFs) in order work toward decarbonization in the steel industry. The costs to steel mills for such a conversion, however, will be high, and that will prove to be a major obstacle for most steelmakers in completely making the switch to EAFs. Achieving the full switch to EAFs by 2030 is not entirely possible for Chinese mills, Fu said. Steelmakers with traditional BFs, however, can still play a role, he said. They should adapt by using high-grade iron ore..."

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