Our latest edition of the technical briefing for policymakers in Brussels focused on the different technological pathways available to decarbonize steel production in the EU. Some of the key points discussed were:
- Global overcapacity is massive, around five times total European capacity, and continues to rise. Additionally, the global market is heavily distorted by subsidies and tariffs.
- Future low-carbon pathways will require vast amounts of clean electricity. The first process step, producing iron from high-grade iron ore, will also require green hydrogen and is likely to be most competitive in regions with very low-cost renewable energy.
- The European Union needs to set a clear coal phase-out trajectory for ironmaking, secure cheap, abundant, clean energy for the H2-DRI iron production and primary steel, create lead markets and EU standards for green steel, redesign the clean steel value chain strategically, invest in innovative primary steel production pathways, and make the EU the leader in scrap quality upgrading.
The 45-minute briefing was co-led by our colleagues Peter Schniering, Marlène Siméon, Magnolia Tovar, Hannah Maral, and Sophie Deijkers.
For a global perspective on steel decarbonization pathways, watch this video.
A big thank you to the attendees for their active participation!
