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Search results for: โ€œsteelโ€

  • Global steel supply-demand model?

    Global steel supply-demand model?

    Global steel supply-demand runs at 2GTpa in 2023, having doubled since 2003. Our best estimate is that steel demand rises another 80%, to 3.6GTpa by 2050, including due to the energy transition. Global steel production by country is now dominated by China, whose output exceeds 1GTpa, which is 8x the #2 producer, India, at 125MTpa.

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  • Steel production: costs and energy economics?

    Steel production: costs and energy economics?

    This data-file captures steel production from the reduction of iron ore in a blast furnace and basic oxygen furnace. Our base case is a marginal cost of $550/ton and 2.4 tons/ton of CO2. Decarbonization options such as hydrogen can be stress-tested.

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  • Electrasteel: renewable steel breakthrough?

    Electrasteel: renewable steel breakthrough?

    Electra is developing an electrochemical refining process, to convert iron ore into high purity iron, and ultimately into steel, using only renewable electricity. It has raised c$100M, gained high-profile backers, and is working towards a test plant. This 9-page note reviews an exceptionally detailed patent, finds clear innovations, but also some remaining risks and cost…

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  • Boston Metal: molten oxide electrolysis of steel?

    Boston Metal: molten oxide electrolysis of steel?

    Boston Metal aims to decarbonize steel, using molten oxide electrolysis, absorbing 4MWH/ton of steel. This data-file is a Boston Metal technology review, based on assessing 55 patents across 3 families. We were unable to de-risk the technology. A key challenge is conveying current into the cell, as it operates around 1,600C, which is above the…

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  • Green steel: circular reference?

    Green steel: circular reference?

    Steel explains almost c10% of global CO2. Hence 2021 has seen the worldโ€™s first โ€˜green steelโ€™ made using green hydrogen. Yet inflation worries us. At $7.5/kg H2, green steel would cost 2x conventional steel. In turn, doubling the global steel price would re-inflate green H2 costs by $0.5/kg. This note explores inflationary feedback loops and…

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  • Electric arc furnaces for lower-carbon steel production?

    Electric arc furnaces for lower-carbon steel production?

    Electric arc furnaces generate enormous amounts of heat to recycle scrap steel, with 85% lower CO2 emissions than primary steel production. Our base case model yields a 15% IRR at $475/ton steel prices and a 10c/kWh power price. However, IRRs could be uplifted 2-6pp by integrating with renewables.

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  • Blue steel: construction boom?

    Blue steel: construction boom?

    The DRI+EAF pathway already underpins 6% of global steel output, with 50% lower CO2 than blast furnaces. But could IRA incentives encourage another boom here? Blue hydrogen can reduce CO2 intensity to 75% below blast furnaces, and unlock 20% IRRs at $550-600/ton steel? This 13-page report explores the opportunity, and who benefits.

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  • Commodity prices: metals, materials and chemicals?

    Commodity prices: metals, materials and chemicals?

    Annual commodity prices are tabulated in this database for 70 materials commodities; covering steel prices, other metal prices, chemicals prices, polymer prices, all with data going back to 2012. 2022 was a record year for commodities. The average material commodity traded 25% above its 10-year average and 60% of all material commodities made ten-year highs.

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  • Direct reduced iron: costs and projects?

    Direct reduced iron: costs and projects?

    Direct reduced iron (DRI) is produced by reacting iron ore with H2-CO syngas, fueled by natural gas, in over 150 facilities worldwide. Direct reduction iron costs $300/ton, consuming 3,000kWh/ton of energy and CO2 intensity of 0.6 tons/ton. The process can be decarbonized via low-carbon hydrogen in the syngas, as the world strives towards decarbonized steel.

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  • Recycling: a global overview of energy savings?

    Recycling: a global overview of energy savings?

    1GTpa of material is recycled globally, across steel, paper, glass, plastics and other metals. On average, 35% of these materials are produced from recycled feeds, saving 70% of the energy and CO2, with upside in the Energy Transition.

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