decarbonization

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Decarbonisation of EU industry needs support from governments

In February 2023, the European Commission presented the Green Deal industrial plan

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The European Commission approved state support of ArcelorMittal from Germany and Spain for €515 million

The funds will go to support the company's projects on decarbonization of steel production

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World scrap consumption in 2022 decreased by 7% y/y

During the year, the use of scrap metal as a raw material for steel production was 32%

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German steel industry needs state support for a green transition

The first agreements on climate measures with steel companies will be concluded in the coming months

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The EU agreed on temporary targeted support for the green industry

The most controversial issue at the moment is the approach to financing

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German steelmakers are worried about a possible future scrap shortage

A shortage of scrap could hamper the steel industry's ambitions for decarbonisation

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European CBAM will accelerate decarbonization in China

China's national ETS currently only covers the energy sector

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Salzgitter and Canada’s Baffinland will cooperate in the production of green steel

The Salzgitter Group aims to achieve practically zero carbon emissions by 2033

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India to increase the share of scrap in steel production to 50% by 2047

Gradually, the country will increase the import of scrap metal, becoming the world's largest importer of such raw materials

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US steel producers do not express concern about CBAM

At the same time, analysts believe that decarbonization efforts should be global

The EU should stimulate green investments in Europe — EUROFER

The gap in the cost of steel production between the EU and the US may increase to 60%

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