The 17th Arab Steel Summit, held on 14-15 October 2024, continues to address the steps taken by the iron and steel industry towards decarbonisation. Paolo Cancian, IMEA Senior Sales Manager, delivered the opening speech of the panel and talked about SAMS Group's goals to shape metal production processes worldwide with its wide range of technologies. Focusing on classical ore-based solutions and recycling techniques, Cancian emphasised the importance of automation and artificial intelligence applications that will increase sustainability and efficiency in the steel industry.
Renewable energy and steel production
In the panel, a technology roadmap for 2050 was presented and the main factors for low-carbon iron and steel production were discussed. Another noteworthy issue at the summit was that two-thirds of the current renewable energy generation capacity will be required for the steel industry. It was also stated that global electricity demand will double by 2050 in order to achieve net zero targets.
Climate-neutral production in the steel industry
SMS Group announced at the panel that it is developing alternative fuels and reducing agents for climate-neutral metal production. It stated that they are working on innovative solutions for the cost-effective conversion of existing iron production facilities to low carbon emission operations. The summit also emphasised the need to double the global scrap pool.
Circular economy and zero emission targets
At the end of the summit, the SMS Group emphasised ecologically and economically balanced solutions for the circular economy, stressing the importance of near-zero emission steel production based on hydrogen and green electricity. Committed to further develop metal recycling processes, the group stated that the steel industry's steps towards decarbonisation are critical.
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