Article

China is the world's largest and most carbon-intensive steel producer, responsible for a significant portion of global greenhouse gas emissions in steelmaking, which accounts for 7-8% of total emissions. In the US, Nucor (NUE) and Steel Dynamics (STLD) are at the forefront of green steel production, employing electric arc furnaces and high scrap inputs.

NUE aims to achieve net-zero steel at scale, while STLD reports that 82% of its furnace inputs are recycled or internally produced. However, factors such as high production costs, limited access to green hydrogen and renewable electricity, and inconsistent emissions certification pose challenges to the scalability of green steel initiatives. The industry must monitor access to low-cost renewable power and credible emissions claims as many projects are still in the announcement phase.