Why green iron ore may be the next big wave for green steel -...

Why green iron ore may be the next big wave for green steel - Fastmarkets

Shortages of high-grade pellet-feed iron ore concentrates and good-quality ferrous scrap such as plate and structural grades mean that direct-shipping iron ore fines are likely to remain the mainstay steelmaking raw material. But fines in their current shape and form do not conform to the steel industry’s growing aversion to pollution, which is why the decarbonization of iron ore fines is a trend which is very much here to stay, according to Matthias **riel, director of the ferrous product group at technology provider Metso Outotec.

A key trend which Fastmarkets has observed is the rise of direct reduction as the preferred technology for steelmaking, because it skips the polluting sintering process and use of coke as reductant. The sintering of iron ore fines has long been criticized as a key culprit in carbon dioxide emissions in the steel industry. This expected rise in demand for direct-charge materials is clear, with major Brazilian miner Vale looking to ramp up its production of pellet and briquette to around 22% of its total production, or about 100 million tonnes, after 2030, from 33 million tonnes in 2022. But its iron ore production will grow more slowly, to more than 360 million tonnes after 2030, from 310 million tonnes in 2022. Metso Outotec has recently launched a proprietary DRI smelting technology, which if combined with 100% hydrogen-based Circored direct-reduction technology, will accept lower-grade iron ores as well, according to Parizat Pandey, director of DRI at Metso Outotec."

Eveyone is racing to develop the next tech to produce green steel. There is enough demand out there for everyone!