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Iron ore outlook under steel's accelerated energy transition two-degree scenario
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Report summary
We have explored an alternative scenario, beyond our base case, whereby the steel industry successfully follows a two-degree warming pathway – called the Wood Mackenzie Accelerated Energy Transition 2.0 scenario. We have examined what steel’s two-degree warming pathway means for iron ore demand and prices. We examine what needs to happen for steel to be compliant with a two-degree world; what does achieving the two-degree warming pathway mean for iron ore demand; Iron ore trade impact; and the effect on iron ore prices.
Table of contents
- Executive summary
-
Steel AET2.0 scenario analysis
- Steel demand is unchanged from the base case
- Carbon emissions from the steel sector must fall by 75%
-
Iron ore AET 2.0 scenario analysis
- Iron ore demand
- Iron ore trade
- Iron ore prices
Tables and charts
This report includes 12 images and tables including:
- Iron ore trade impact under AET2.0
- Indian iron ore imports
- 62% Fe fines (CFR China)
- Cost of steel mills by technology and feedstock options 2050
- Wood Mackenzie base case steel production
- Scrap consumption under AET2.0
- Total iron ore consumption
- Hot metal production under AET2.0
- Blast furnace iron ore consumption
- DRI production under AET2.0
- Iron ore consumed for DRI
- Pellet feed supply and demand
What's included
This report contains:
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