Insight
Iron ore energy transition outlook 2024
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Steel CO2 emissions are projected to decline by 30% to 2050 in our base case, falling short of the contraction required to meet current climate goals. A more rapid and comprehensive decarbonisation will be required to meet, or even exceed, the 2 ˚C warming target. Accelerated carbon emissions reductions will be achieved through a combination of advancements in existing technologies, substantially lower hot metal production, improved scrap collection and use, and increased hydrogen-based DRI production. For iron ore, this means total demand will significantly decline below our base case by 2050 as scrap displaces hot metal production. But the energy transition also requires greater volumes of DRI, presenting a huge opportunity for suppliers of premium grade iron ores.
Table of contents
- No table of contents specified
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Insight
The energy transition outlook for rare earths 2025
Energy transition increases rare earth demand for EVs and wind at expense of catalysts
$1,050
Insight
India's energy roadmap: 5 key themes are emerging
5 key themes that remain on watch for India's energy landscape until 2035
Insight
Energy perspectives 2026
Benchmarking Wood Mackenzie, IEA, OPEC and Energy Majors’ demand outlooks
$1,250
