Understanding the demand for Green Steel, page-83

Fortescue sees iron-clad demand with tinge of green (theaustralian.com.au)




"Champion Iron Senior Vice-President, Corporate Development and Capital Markets Michael Marcotte said just 5% of the global iron ore market could supply direct reduced iron plants, a cleaner form of iron ore production currently powered by gas and potentially powered by hydrogen in the future.

Much of that is produced in Russia and Ukraine, where Scope 1 emissions are high and the obvious shadow of war remains.Marcotte says DRI quality iron ore will see demand growth of 355% in a 1.5C global warming scenario, behind only cobalt, lithium and graphite in demand growth.“Steel is actually the one common element needed in every one of these (low emissions) technologies,” he said, quoting research from Wood Mackenzie."