Suggest you look up what BlueScope’s Mark Vassella says about the difficulty of moving towards Green Steel, as a starter. Some very realistic comments, from someone deep in the industry, who is calling out the obvious problem that the technology has not yet been successfully achieved at commercial scale.
A BloombergNEF study from December 2022 estimated that getting the steel industry to net zero by 2050 would cost at least US$278,000,000,000. Read: government subsidies galore.
HotCopper threads on these things always make it sound far easier than reality. Listen to the experts and the people in industry who actually will be tasked with achieving the pipedream. Next, ask yourself why the world’s biggest miner, BHP, divested all its thermal coal (energy) assets, but kept all its met coal (steelmaking) assets. Then look at the terrible strife companies are having with magnetite. And fill in the dots. Cheers
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