Steel industry carbon emissions to drop nearly 1/3 by 2050: Consultancy

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BEIJING - Carbon dioxide emissions from the world's steel sector will fall 30 per cent by 2050 compared with last year as more mills turn to less-polluting electric arc furnaces , Britain-based consu

BEIJING - Carbon dioxide emissions from the world's steel sector will fall 30 per cent by 2050 compared with last year as more mills turn to less-polluting electric arc furnaces , Britain-based consultancy Wood Mackenzie said in a study on Tuesday .

"Together with green hydrogen-based direct reduced iron , scrap use and adoption of carbon capture, utilisation and storage, steel industry's carbon emissions can decline 30 per cent from current levels by mid-century," Malan Wu, research director with Woodmac said in a release. It expects China to lead the cut, halving its carbon emissions in the coming three decades, though most of the reduction will be due to falling steel output.

Tight scrap supply could pose a threat to China's decarbonisation, as hiking scrap prices will pressure steel margins in coming years, Woodmac's Malan Wu told Reuters.

 

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