High Costs Threaten to Derail Europe's Plans to Decarbonize Steel Industry

As the energy transition continues at pace, reducing the carbon footprint of traditionally high-emitting industries is increasingly crucial to limiting global emissions. Of these hard-to-abate sectors, steel manufacturing is one of the most challenging. Despite incentives and tax breaks designed to promote the production of green steel – produced using zero-carbon electricity – European steel mills are facing an up-hill struggle.

This DRI can be melted down in an EAF to produce steel or transported in molten liquid form to a Basic Oxygen Furnace BOF. By doing so, the steelmaker can achieve a more cost-effective solution than producing its own DRI in Europe. According to the World Steel Association, integrated works, comprising blast furnaces and basic oxygen steelmaking plants, release an average of 2.33 tonnes of CO2 per tonne of crude steel, while DRI and EAF plants emit only 1.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Geopolitics and Inflation Threaten to Derail Booming Stock MarketThe S&P 500 reached record highs in March, but there are concerns about its ability to weather challenges such as geopolitical conflicts and inflation.
Source: OilandEnergy - 🏆 34. / 68 Read more »

High Energy Costs Have Put German Industry at a DisadvantageGermany's industry is struggling to recover from the energy price shock sparked by Russia's invasion of Ukraine.
Source: OilandEnergy - 🏆 34. / 68 Read more »