Understanding the demand for Green Steel, page-667

China aims to increase the share of EAF in steel production to 20 percent by 2030 (gmk.center)



Seven Chinese government departments have put forward a proposal aimed at increasing the share of electric arc furnaces (EAFs) in steel production to over 20% by 2030. This is reported by SteelOrbis.

Last December, China’s State Council announced a plan to improve the country’s air quality in the long term as part of its efforts to promote quality economic development. According to the plan, the authorities will continue to promote the development of electric steelmaking, which will account for 15% of total steel production by 2025."

China produced 1.019 billion tons of steel in 2023, up 0.6% year-on-year. 15% of that is 151 billion tons going green. Our entire 6 billion tons of magnetite wont be enough for china alone... LOL Good times.