Understanding the demand for Green Steel, page-388

Steering the Future of Steel in an Uncertain Time | Omega Underground




Can you paint a picture for us of what the steel industry might look like in the year 2050? What trends or shifts do you anticipate?
I foresee Electric Arc Furnaces (EAFs) emerging as the clear winner. The future of capacity is likely to be dominated by EAF mini-mills strategically distributed worldwide. As for prices, they’ll probably rise due to the “green premium,” but this should stabilize as the adoption of general sustainability standards becomes widespread. Of course, Basic Oxygen Furnaces (BOFs) will continue operations until they’re shut down due to capital expenditure constraints or government mandates. Ultimately, the direction of capacity shifts will be determined by customer preferences."

Worth a read.