Transformation requires support
Transforming steel production involves considerable investment, and significantly increases production costs. Successful decarbonization depends upon an overall policy framework that unites climate, energy, and economic concerns, and establishes a clear political commitment to a competitive steel industry.
Another, no less important, prerequisite for decarbonizing steel production (achieved both via a hybrid technology using electric arc furnaces, as well as a long-term technological transformation based on green hydrogen) is the availability of sufficient quantities of renewable energy at commercially realistic prices, and efficient power grids.
This is the only way in which tomorrow’s technologies can be applied in a truly competitive manner.