Green steel on the backburner, Fitch warns | PerthNowFederal and...

Green steel on the backburner, Fitch warns | PerthNow

Federal and state governments are counting on new technologies to use Australian iron ore to make steel without coal.

But a slowing global economy with high levels of inflation and already squeezed profits is expected to hold up the development of green steel in the next two to three years, a leading research house has warned.Green steel, made using hydrogen rather than coal, will take time to develop despite commitments by governments to decarbonise, according to a Fitch Solutions report released on Monday."

I know this is not what you want to hear but its just another article. It is important that we consider both sides of the story. This article doesnt deny that there is demand for green steel but simply highlights that it wont go as fast as we expect it to given lack of policy + global climate (inflation/war), etc.