Fastmarkets Metals and Mining reposted this
A market for green HBI is ‘definitely emerging’, according to panelists speaking at the Fastmarkets International Iron Ore and Green Steel Summit 2024 in Vienna today. Luisa Orre, head of procurement at H2 Green Steel, which is building a hydrogen-powered steel plant and DRI production facility in Sweden, said that sentiment has shifted from everyone wanting to produce their own green HBI to an appetite to purchase it for import, due to the challenges around using renewable energy for production. H2 will have hydrogen-based DRI production capacity of 2.1 million tonnes - too much for phase one of operations. Also discussed in the panel ‘long term iron ore strategies in light of steel decarbonisation’, were a diverse range of topics included securing the future supply of high grade iron ore needed for decarbonisation, how projects are being financed, and ESG considerations more broadly. On financing, Orre added that H2, which last year secured a record €6.5 billion of funding, demonstrated a solid business case which stood alone regardless of any premium it could achieve for producing low carbon steel. gunnar moe, CEO of Norwegian iron ore producer Rana Gruber, and Dilip George, CEO of Foulath Holding which produces pellets in the Middle East, added that they both see sufficient project financing available for iron projects which contribute to decarbonisation. #fastmarketsiio #ironore #steel #decarbonisation
