The Current Situation, Development, and Prospects of the Iron and Steel Industry in the Process towards the “Dual Carbon” Goals

Abstract

The iron and steel industry is the largest carbon emitter in China’s manufacturing sector and one of the most important fields in the country’s response to climate change. This paper aims to explain the current situation, technological pathways, and future direction of green and low-carbon development of the iron and steel industry. According to the carbon emissions of the iron and steel industry, this paper analyzes the relationship between steelmaking technologies and carbon emissions, as well as the transformation trend of the world’s iron and steel industry, finding that China’s iron and steel industry faces both opportunities and challenges. Steel scrap recycling and electric furnace steelmaking technologies, re-electrification, hydrogen metallurgy, resource recycling and by-products, and carbon capture and utilization (CCU) are the main technologies tailored to the transformation pathways, and the optimization of energy consumption structure is an important direction for future development. Therefore, this paper believes that clean energy, as a guarantee for carbon mitigation, will play an increasingly important role in the process towards achieving carbon peaking and carbon neutrality goals (the “dual carbon” goals), in addition to the transformation of metallurgical technologies.