Not enough consumption market. They didn't rescue car industry. Has to be exported, and there comes the cost of transport into steel export.
Less than 8% net margins, when times are good.
Before you even buy a plot of land for green or black furnace, you'll find people on defined benefits and instagram youngsters throw tantrums and protests on climate change and EIA assessments on that empty patch of land, yet these people want perpetual Medicare.
Asia buys from China. Europe buys within the UK and European Union incorporated entities. US makes their own and used to buy from China. So don't know who would be customers for Aus-Steel.
The only thing that would fly here is Green-Steel and it has not been commercially proven yet. Not here not anywhere in the world. Looks beyond 2030 for that. With all this backdrop Dr Andrew Forest attempts the unthinkable, so I have deep respect for him.
I'll leave estimated price for Green-Steel for another time. Coefficient of Variation is just too large at this point.
Iron ore price, page-37962
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