You are here: Home > Steel News > Latest Steel News > Wood...

Wood Mackenzie: Low-carbon steelmaking routes may require advancements

Friday, 09 February 2024 15:12:24 (GMT+3)   |   Istanbul
       

Scotland-based energy research and consultancy company Wood Mackenzie has stated in its latest report that steelmaking’s transition to more sustainable processes will be crucial to driving down global emissions. However, current commercially viable technologies may require significant advancements.

Looking at the potential routes to low-carbon steelmaking, Wood Mackenzie stated that combining green hydrogen with direct reduced iron (DRI), which stands out as a preferred route to low-carbon steelmaking for many, is the route closest to carbon neutrality, via the use of green hydrogen instead of natural gas or coal. As a result, DRI’s share in the metallic mix is projected to more than double by 2050. Noting that the electric smelting furnace-basic oxygen furnace (ESF-BOF) process, which utilizes electricity, instead of coal/coke and offers steelmakers greater flexibility, is another potential solution that could bridge the gap between existing electric arc furnace (EAF) and blast furnace-basic oxygen furnace (BF-BOF) technologies.

The company stated that the DRI-ESF-BOF route could reach near cost parity with the traditional DRI-EAF route over the long term. In some cases, it could even be cheaper, depending on regional dynamics and whether the fuel feedstock used is natural gas or hydrogen.


Similar articles

Worldsteel revises down global steel demand outlook for 2024, expects rebound for 2025

14 Oct | Steel News

BHP: Global steel output to increase slightly in remainder of 2024

28 Aug | Steel News

IREPAS: Global longs market outlook uncertain, everything depends on China

05 Jul | Steel News

OECD Steel Committee: Global demand to remain very sluggish

08 Apr | Steel News

TUAC at OECD: Steelworkers concerned over unjust green transition

27 Mar | Steel News

OECD: Global steelmaking excess capacity continues to rise, creating worrying outlook for coming years

11 Jan | Steel News

Fitch Ratings expects steel markets to become more balanced in 2024

14 Dec | Steel News

Alexander Fleischanderl: Low-carbon technologies in total steel output will more than double by 2050

07 Dec | Steel News

COP28 panel: 99% emissions reduction in steel could be achieved by 2053

05 Dec | Steel News

BIR: Scrap sector looks towards growth as mills focus on green steel

25 Oct | Steel News