Low-carbon production of iron & steel: technology options, economic assessment, and policy.
This analysis gives a representative (but not quite comprehensive) look into global steel production and its various decarbonization pathways. As it stands, substantial GHG reduction in steel production is only possible with substantial cost increases.
But there are important steps that can be taken immediately; this report explores hydrogen or biofuel replacement of fossil fuels, carbon capture and storage retrofitting of steel production, electrification and low-carbon electricity, and biomass substitution for coke as they apply to electric arc furnaces (EAFs), basic oxygen furnaces (BOFs), and direct reduced iron (DRI). BOFs currently dominate the global market, producing 71% of steel worldwide, but are inherently difficult to decarbonize substantially.
Speeding decarbonization will require investment in low-carbon infrastructure enablers, government incentives, green procurement policies, low-carbon production standards as regulatory drivers, replacement of high-impact facilities with low-impact alternatives, and development of international low-emission production standards.