Posted on 16 Jul 2024
Reports indicate that as the world's largest steel producer, China is facing mounting pressure to decarbonize its steel industry. With the European Union set to impose a carbon emission tax on imports starting in 2026, China's steel industry is accelerating its shift towards green steel production to maintain competitiveness.
In the first half of this year, Chinese local governments approved new electric arc furnace (EAF) steelmaking capacities totaling 7.1 million tons. By 2026, China's efforts to reduce production and increase the use of EAFs could lower global carbon emissions from the steel industry by 200 million tons, equivalent to the entire emissions of the EU steel sector.
This proactive approach highlights China's commitment to meeting international environmental standards and sustaining its position in the global steel market amidst tightening carbon regulations.
Source:Yieh
