The cost of low-carbon hydrogen will have a major impact on the competitiveness of steelmakers, the report observes.Another solution is to facilitate the entry of new players in the hydrogen-based DRI technology market, it says.One scenario applies a wide range of clean steelmaking technologies, and the other focuses on the accelerated rollout of the Direct Reduction of Iron (DRI) after 2030.“It is technically feasible for the global steel sector to reach net-zero greenhouse gas emissions by the early 2040s,” the study, which was done in collaboration with the Wuppertal Institute, says.DRI is a flexible steelmaking technology which enables the production of near-zero emissions steel.
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