The global steel industry is set to grow by 36% by 2050 and contributes to 7% of the global GHG emissions . With the current method of production (Blast Furnace and Basic Oxygen Furnace) heavily reliant on coal, there arises the need to step up green steel production via hydrogen based Direct Reduced Iron and Electric Arc Furnaces.
In order to meet green steel demand in the EU, green steel can be produced in-house or imported from renewable rich regions such as the Middle East and North America (MENA). We take a case of imports and inhouse production to see which one is economical while assessing the importance of Carbon Border Adjustment Mechanism (CBAM) to make imports attractive.
Here’s our take at Yamna!
