10,055.98 TRY BIST 100 BIST 100
34.72 EUR EUR EUR
32.21 USD USD USD
4.48 CNY CNY CNY
0.13 CNY CNY/EUR CNY/EUR
42.87 TRY Interest Interest
83.49 USD Fossil Oil Fossil Oil
28.48 USD Silver Silver
4.80 USD Copper Copper
116.81 USD Iron Ore Iron Ore
382.00 USD Ship Dismantling Ship Dismantling
2,428.73 TRY Gold (gr) Gold (gr)

The 'green steel' carmakers are buying is far from carbon-free

Automobile manufacturers and steel producers around the world are making deals for green steel, trying to highlight their identity with their environmental approaches, but the steel they buy is currently still forged using fossil fuels and it is not clear how soon this will change.

The 'green steel' carmakers are buying is far from carbon-free

German steelmakers Thyssenkrupp AG and Salzgitter AG find buyers for green steel; buyers, including Mercedes-Benz Group AG, Volkswagen AG, BMW AG and Ford Motor, are willing to pay for environmentally friendly products. However, since there is no green hydrogen supply required for large-scale production, most of this steel will be supplied to the automotive industry using natural gas in the first place.

European steelmakers are scrambling to transform an industry that still burns billions of tonnes of coal and produces about 7% of the world's carbon dioxide emissions. For example, solutions such as the combination of electric arc furnaces and hydrogen are being sought. Automakers acknowledge this will only be a gradual transition, as green fuel production is expected to fall far behind demand in the coming years. Everyone is aware that the transformation will not be quick.

According to Oliver Sartor, senior consultant at Agora Industry, the use of natural gas is only the first step in the transformation of the steel industry. Statements made by experts in this field revealed that there are deficiencies in the green energy transition. For this reason, a labeling system that will show the emission performance of different products needs to be developed. In his words on the subject, Sartor said, "Steel produced with natural gas is not a steel that does not harm the climate, and in the end, that is what is important," and emphasized that it is not possible to completely switch to green steel, yet.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Taiwan's welded steel pipe exports fall in April

Tuesday, May 14, 2024

Scrap prices follow a fluctuating trend in China

Tuesday, May 14, 2024

U.S. hot-dip galvanized sheet exports surge in march

Tuesday, May 14, 2024

India's iron ore exports on the rise

Tuesday, May 14, 2024

Colombia begins anti-dumping investigation

Tuesday, May 14, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now