Carbon capture will not play major role in steel decarbonisation, report says [Reuters]
FORTESCUE METAL GRP S/ADR (FSUGY)
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Source: Reuters
steel industry due to low capture rates, high costs and a track record of underperformance, a think tank said in a report on Wednesday. The global steel sector is responsible for around 8% of the world's carbon dioxide (CO2) emissions. But while many major steelmakers and iron ore miners across the world include CCUS as part of their long-term green transition, there has been virtually no progress on commercial-scale CCUS for the decarbonisation of blast furnaces, analysts at the Institute for Energy Economics and Financial Analysis (IEEFA) said in a report. Also, CCUS for blast furnace-based steelmaking is already being left behind by alternative technology, and the shift from blast furnaces to direct reduced iron (DRI)-based steelmaking that can run on green hydrogen is accelerating, it added. "CCUS for steel has made little or no commercial progress in Europe. If steel CCUS cannot make progress in Europe where there is a significant carbon price, it cannot be expected to ma
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