STEEL
With global steelmakers increasingly turning to scrap steel recycling and direct reduced iron (DRI) as alternatives to blast furnaces, steel producers will not need to rely on carbon capture if the green steel transition continues to accelerate, says Institute for Energy Economics and Financial Analysis (IEEFA) global steel financial analyst Simon Nicholas. With Australian iron-ore producers Rio Tinto, BHP and steelmaker BlueScope Steel having announced plans to collaborate on making Pilbara iron-ore suitable for DRI processes that do not use coal, Nicholas argues that carbon capture, utilisation and storage (CCUS) will not play a meaningful role in steel decarbonisation in future.
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