Can the steel industry go green? | FT Climate Capital

[@Muriel-1112]

While it's great that some companies are making efforts, I think there are still significant challenges in transitioning the entire steel market to be green. The massive scale of steel production makes it difficult to implement these changes across the industry as a whole.

[@Jonesmatsunaga]

The steel market going green is an interesting topic. With increasing concerns about climate change, there is a growing need for industries to adopt more sustainable practices.

[@Andres_853]

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[@Andres_853]

I’ve shuffled through a few experts in the past but settled with LUCY ROSE CARTER.

[@Jonesmatsunaga]

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[@kingk5013]

Well tax payers and consumers will pay the price

[@vaclavnovacek1035]

20-30% price increase is crazy. Its hard to imagine many companies buying that volunteraly and there are plenty of countries even within EU whose governments would have very hard time convincing the public that the added cost to the infrastructure is worth it.

[@bensonboys6609]

When Alex Steel visited the plant, you really got to see the camaraderie and family that was created by this plant. Ideally, instead of them being replaced by new workers specializing in the new technology, it would be nice if the old workers were able to be retrained and re-purposed to do the new jobs. Not all the jobs are going to be super technical and specialized, and a lot of the seemingly technical and specialized jobs could be fulfilled by on the job training, or perhaps have an accelerated training regiment for that job. There are limits to this obviously, and there is a really high carbon cost to this steel family, but I feel like there’s a lot of low hanging fruit that could be done for the steel workers if you take them into consideration.

[@heileopold6122]

H2 costs at least £20 per kilogramm versus just 20 pence for coal. This is 100 times more expensive. This will not work.

[@jillyanddavedave280]

The labour politicians speak of strengthening defence but how are we going to make artillery and tanks without making steel.

[@Diliprathore2]

Small Nuclear power plant can be game changer in this transition. And other solution will be increase taxes on brown steel and give incentives to green steel.

[@Texas-p8n]

How are they powering the electric furnace?

[@kesakhan]

So is "biocoal" just a fancy way of saying charcoal? I love how they make milenia old methods/technologies sound new, hip and green.

[@rgppayne4841]

The cost of steel will become that expensive, all the steelworks close except China's, will eventually close.

[@Bob-jn8gt]

We need more steel and more coal

[@gcvgks432]

The problem is globalisation. It needs to be a whole marekt solution, not only Europe. More and more we are putting on emission tax on local market, we are more further from world price of steel materials. So more and more products, services are more and more expensive inside Europe. More and more decarbonisation is leading more and more job loss to Europe. We need to set standarts and stick to them, in pararel help from goverment the producers to get to high standard. Now more and more one thing maters in world - if it cheap - it is great, quality is coming only afterwards

[@CausticLemons7]

I agree. If we really want to curb emissions and pollution than we have to focus on those goals. While we can't control other nations we can certainly identify and penalize those harmful emissions that we're trying to stop. Tax the pollution, both foreign and domestic, and I bet these new green technologies will be a lot more competitive.

[@shadowsanddust2]

Billy 🐐s says 5 billion will perish.. gets time magazine cover. I say.. the trashing of western middle class's will certainly contribute to this. And sending the Total Yearly Welfare/dole? To the country of origin helps 5× (modestly) than 1 person taking that money in the west., I'm the 😈

[@juhajuntunen7866]

Iron industry use lime stone, it makes slug to remove impurities. But it makes CO2 too. How to avoid that?

[@vaclavnovacek1035]

I believe there was an impressive CNBC short documentary about concrete which uses lime stone as well.

[@phils4634]

Recycling is great, but the Global demand for steel far exceeds the recycling capacity. Steel production NEEDS coking Coal, and so if you want affordable and decent quality steel, you HAVE to use coke. There is no other feasible, and more importantly, AFFORDABLE alternative. If UK /EU don't want to produce steel (or in view of the self-inflicted "Energy Crisis", CAN'T AFFORD to produce steel), then others will, and plant closure = jobs lost, but more critically, expertise lost. Once the expertise has gone, getting it back will be very challenging indeed.

[@siskinedge]

I would agree with this mostly but most of the cost of DRI is making the hydrogen as they mentioned while the cheapest renewable power generation needs energy storage (solar and wind). I could see the two problems synergising by generating green hydrogen when renewable generation exceeds demand (currently we just disconnect windfarms from the grid regularly) to use the lowest cost energy. grid scale energy storage has the issue of efficiency where it's around 60% efficiency currently. I could see this potentially bringing down costs to in line or cheaper than current methods.

[@yabbadabbadoo8225]

Its been well over 100 years since steel was made using piles of wood and coal

[@PomahXomehko]

Green steel is too expensive the price of steel will jump to 2100 dollars to a tonne and scrap steel will be sort after . A average life span of cars is 10 years unless there is a scrapage of scrapping cars after 7 years and any case we haven't got enough Electricity power stations and having 7 million electric cars where's the 49000MW going to come from this topic is half baked and turning wast wood into charcoal why not convert it into plywood instead of burning it .

[@janholland2224]

Thank you. Cool you mention Boston Metal (7:10) as this is a completely new approach. It would be interesting to learn more on their disruption potential. No idea if Mr. Allanore is still around but he had a rather interesting background and understood the industry (and problem).

[@HB-xw6im]

These companies always had huge profits and will continue to have with the subsidity of the tax payers. So, lets make European steel more expensive so the buyers will buy directly from China or India... cant make sense of it all... From where is the energy gonna come from? Are they gonna build dams everywhere?

[@EnkhturDashdorj4]

Great

[@gyorgygajdos1657]

The only practical way is nuclear power and electric furnace

[@schatterjeeanmol]

Excellent Educational video

[@jarednovel]

I highly doubt if you got all the details...

[@Heegooat]

of course! good old timber

[@HoshiaHoshia]

green

[@jarednovel]

Using taxpayers money to fund private companies that are going to produce more expensive steel or more expensive energy sounds like total rip off of the already struggling taxpayers that are increasingly being burdened by increased taxation

[@incognitotorpedo42]

But the taxpayers are paying subsidies to the old technologies now. We should stop subsidizing tech that we don't want, and shift those subsidies to tech that we do want. Climate change costs the country a fortune due to increased storms, drought, heatwaves and wildfires. Ultimately those costs come out of your pocket.

[@jarednovel]

@@incognitotorpedo42 The high cost of green energy and green production is simply making the society poorer. That is one of the reasons many are opposed to green agenda. What is the point of saying we want to save the planet while stockpiling nuclear weapons in this unstable world...The threat of nuclear annihilation is growing each day

[@grahamtaylor5757]

By the way we have tried buying it?

[@grahamtaylor5757]

While I am on line, we would also be interested in buying Cardiff international airport, but nobody will answer us?

[@grahamtaylor5757]

Tata steel portalbot and the ith plants they have around the world was offered a great deal to reduce the steel works carbon footprint by up to 99% by my group if companies, with a zero up front cost to do so, and we would reduce their electricity bills lls by 50%, but portalbot managing directors never replied to any offers for the last 10 months? Why?, Because they knew in Jan 2023 that they would close the portalbot steel wy, as they had stated building another one in India.

[@grahamtaylor5757]

And by the way, we have offered to buy it without any subsidies from the UK or Welsh gov, but still no replies?

[@user-we8hi4yu6]

right. 4.3 billion to buy the plant. 3.5 billion to upgrade the plants to working condition. after acquiring that steel plant in 2011, the highest profit the made 208 million in 2023 now 2 billion to turn them "green" forced by the govt. And the govt gives 0.5 billion as a helping fund.(by this 5000 job will save) and what you think by making half electric bill(despite 3rd country with highest electric rate) and total production of stell production by whole UK only of 7million ton. did you(we) going to taking responsibility of all the shareholder and pension fund of people which is join with that company ?

[@Curious-i5m]

👤🌏☯️♻️

[@MaxMustermann-yj1wz]

Negative

[@robertprawendowski2850]

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