Steel is a challenging sector to decarbonise. However, evolving green steel goals are altering the supply landscape and steelmakers are under pressure from stakeholders.
Balancing reliance on China’s technology providers with local interests is now a key political as well as environmental challenge, says Wood Mackenzie.
“The most likely outcome is an environment where commodity prices can settle from the extraordinary highs of 2021. But there are plenty of risks to this outlook," says Wood Mackenzie.