What's next for green steel technologies?

Steelmaking's green transition is crucial for driving global efforts to reduce emissions. Despite this, current commercial steelmaking technologies, such as the Electric Arc Furnace (EAF) and the Blast Furnace (BF) - Basic Oxygen Furnace (BOF) process routes, still need significant technological advancements to meet the emission goals. Although the EAF technology represents a shift towards more electrified and lower-emission steelmaking processes, it faces limitations, including the lack of scrap, the necessity for high-grade iron ore, and product quality issues, making it unlikely that EAF could fully replace BF-BOF production in global markets. The Electric Smelting Furnace (ESF) is emerging as an alternative to bridge the gap, utilising DRI produced with low and medium-grade iron ores. The ESF converts DRI into liquid hot metal and integrates DRI plants seamlessly with existing BOF facilities, potentially reducing capex, operational complexity, and project execution time.