The global steel sector accounts for roughly 7% of the world’s CO2 emissions. Blast furnaces, which process iron ore and coking coal, and produce most of the world’s steel, have a higher emissions intensity compared with mini-mills that melt ferrous scrap. Incorporating hydrogen and renewable power could help the sector lower its emissions profile as it looks for new ways to meet demand for greener steel.
S&P Global Platts managing editor Andrew Moore speaks with Platts senior editor for steel raw materials and metals analysis Hector Forster and Platts Analytics’ lead hydrogen analyst Zane McDonald on how hydrogen may help transition the steel sector away from emissions-intensive blast furnaces and more toward direct reduction iron- and scrap-fed electric arc furnaces.
The discussion covers global steel production trends, PCI coal substitution by hydrogen, power and hydrogen sources, carbon-based taxes on steel in Europe, and how demand for low emissions steel is already being seen in Europe.