Global Energy Monitor reposted this
Great work by Dr. Chris Bataille and the team at IDDRI! We love to see this type of use of Global Energy Monitor data. Figure 11 provides a fascinating mapping of the global blast furnace fleet and the remaining lifetimes of these units. Lots of coal-based capacity coming up against relining decisions in the next 5-10 years...
#ironmaking #steelmaking, #cokemaking, #refractory #ferrochrome #procurement #logistics professional
๐๐ฎ๐ฐ๐ถ๐น๐ถ๐๐ ๐น๐ฒ๐๐ฒ๐น ๐ด๐น๐ผ๐ฏ๐ฎ๐น ๐ป๐ฒ๐-๐๐ฒ๐ฟ๐ผ ๐ฝ๐ฎ๐๐ต๐๐ฎ๐๐ ๐๐ป๐ฑ๐ฒ๐ฟ ๐๐ฎ๐ฟ๐๐ถ๐ป๐ด ๐๐ฟ๐ฎ๐ฑ๐ฒ ๐ฎ๐ป๐ฑ ๐ด๐ฒ๐ผ๐ฝ๐ผ๐น๐ถ๐๐ถ๐ฐ๐ฎ๐น ๐๐ฐ๐ฒ๐ป๐ฎ๐ฟ๐ถ๐ผ๐: ๐๐ถ๐ป๐ฎ๐น ๐ง๐ฒ๐ฐ๐ต๐ป๐ถ๐ฐ๐ฎ๐น & ๐ฃ๐ผ๐น๐ถ๐ฐ๐ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐ ๐ณ๐ผ๐ฟ ๐๐ต๐ฒ ๐ก๐ฒ๐-๐๐ฒ๐ฟ๐ผ ๐ฆ๐๐ฒ๐ฒ๐น ๐ฃ๐ฟ๐ผ๐ท๐ฒ๐ฐ๐, ๐ฃ๐ฎ๐ฟ๐ ๐๐, by Dr. Chris Bataille; Seton Stiebert, Dr. Francis Li #Keymessages โ A global #transition to #netzero CO2 emissions #steel by midcentury is possible through maximizing volume and quality of recycled steel from 25 to 50%+ of production, paired with several possible near zero emissions iron ore reduction #technologies โ Chinese #capacity to make emission intense #BF-#BOF primary steel will soon exceed its demand. If #Chinese firms can be persuaded to close the least efficient facilities with the worst air quality impacts this would leave more global market share for new clean iron ore reduction facilities, inside or outside of #China. โ The next few years are critical to reorientate the global #steelindustry toward net zero #emissions by mid-century. It takes at least 5 years from project inception to #production for new #ironore reduction #facilities, usually much longer, and any new #reduction facilities built in the 2030s will be operating in the 2050s. โ Given most new #demand for steel is outside developed countries, even a club of ambition that included the European Union, #NorthAmerica, #SouthKorea, #Japan, #Australia and #NewZealand, would not be large enough to transform the global steel industry by itself. This is true even if the rest of the world adopted significant #carbonpricing policies. A broader club including for example India is required. โ Lead #markets, especially for the first round of low #GHG intensity iron ore reduction #projects, are necessary to establish demand and #investment certainty for clean iron ore reduction. This can be established through #government preferred and subsidized #procurement, through production #taxcredits like the #IRA, or perhaps through something like the tradable Zero Emissions Vehicle mechanism. โ Reasonable #cost #finance is necessary to fund risky and expensive upfront investment, especially in developing countries. For at least the first round of projects in developing countries some form of risk reduction or concessional finance #mechanism is necessary. โ Trade in low GHG intensity green hot briquetted iron (#HBI) from multiple #suppliers offers #flexibility, #security, and a means to transfer #electricity and #hydrogen consumption where it is cheapest and cleanest, as well as adding value to #scrap for mixed primary & secondary production. We found it could reach at least 10% of global production, limited only by available iron ore #resources. To reach its potential, however, it requires clear #trade rules and tariffing that accurately assesses GHG intensity for all traded #steel and #iron. Download link Net Zero Industry: https://lnkd.in/dUGTPDVk IDDRI Global Energy Monitor
