The willingness among steel consumers to pay premiums for ‘green’ products was not enough to offset the extra cost of the technology transition in the short term, according to Dr Karel Eloot, senior partner in the global materials insights department of management consultant McKinsey & Co.

The global steel industry is currently grappling between decarbonizing at higher costs while still attempting to maintain cost competitiveness with traditional blast furnace-based production methods, sources told Fastmarkets.

The UK is to provide funding of £13.5 million ($17.3 million), to support supply chain businesses and workers affected by Tata Steel’s decarbonization plans for its Port Talbot steelworks in south Wales, the British government said on Thursday August 15

The transition from blast furnace (BF) steel production to electric-arc furnaces (EAF) provides a clear path to achieving zero-emissions steel, with producers considering hitting sustainability targets and lower costs, Wade Wright, a steel consultant told participants at a green steel webinar held by Jefferies Equity Research on Monday August 12

The Brazilian steel industry called for trade defense measures and integrated action in Latin America to try to contain the advancement of Chinese-origin material before moving on to more complex projects such as decarbonization, key industry market participants said at the 2024 Brazilian Steel Conference

Global commodities giant Glencore has announced its decision to retain its coal and carbon steel materials business, abandoning earlier plans for a demerger

A low-carbon world will still need steel that can satisfy the diverse demands of a variety of downstream sectors, Frederik Leus, of ArcelorMittal’s Xcarb Business Development section, said in an address to Fastmarkets’ International Iron Ore and Green Steel Summit, being held in Vienna, Austria, on June 25

The June construction startup of a new steel plant in Deacero's complex in Ramos Arizpe, in the northeastern Mexican state of Coahuila, will position the company to meet future demand for lower-carbon steel nationally and abroad, a Fastmarkets analyst said on Monday June 17

Tata Steel intends to continue with plans to close its blast furnaces at the Port Talbot Steelworks in Wales, and called for both of the UK’s major political parties to adhere to the terms of its plan to develop a lower-emissions electric-arc furnace-based steelmaking plant on the site, the firm said on Tuesday June 11

A “special action plan for carbon reduction” unveiled by China's National Development & Reform Commission (NDRC) will reduce the need for coking coal and iron ore by focusing on upgrading existing equipment and the switch to electric-arc furnaces, sources told Fastmarkets this week