EAF switch moving slowly, says research firm

EAF switch moving slowly, says research firm
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San Francisco-based environmental research firm Global Energy Monitor (GEM) says a global switch form blast furnace/basic oxygen furnace (BOF) steelmaking to the scrap-fed electric arc furnace (EAF) is happening slowly, with China and India still largely reliant on BOF technology.

Currently, says GEM, the shares of capacity by steelmaking technology seem poised to shift from 69 percent BOF and 31 pecent EAF in 2022 to 68 percent BOF and 32 percent EAF in 2030, “and remain approximately the same through to 2050.”

In a June website posting by Caitlin Swalec of GEM’s Steel Plant Tracker team, she says excess capacity and stranded assets loom on the horizon if new planned BFO projects come online—and if nations take measures to meet decarbonization goals.

“The steel industry could face $518 billion in stranded asset risk as countries work towards meeting their long-term carbon neutrality commitments, if the 345.3 million metric tons per annum of emissions-heavy blast furnace /BOF proposed or under construction is fully developed,” writes Swalec.

Up to $237 billion of those potentially stranded assets—or 45.7 percent—are located in China, according to GEM. Another $184 billion (35.5 percent) are in India. That means the two largest nations by population in the world, combined, are carrying more than 80 percent of the risk.

Swalec calls progress toward decarbonizing the sector by replacing BOF steelmaking with EAF technology “stagnant.” She says the International Energy Agency’s “Net-zero by 2050” scenario posits the share of EAF steelmaking global capacity should reach 53 percent by 2050. “This target requires an additional 576 metric tons per year EAF capacity while at the same time canceling or retiring 419 million metric tons of BOF capacity,” writes Swalec.

GEM will be among those urging action toward an EAF switch. “Transitioning to less carbon-intensive steelmaking is a big part of countries meeting their net zero goals,” writes Swalec. “We need to stop investing in coal-based blast furnace basic oxygen equipment and speed up the shift towards electric arc furnace steelmaking.”

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Source: Recycling Today
EAF switch moving slowly, says research firm
<![CDATA[San Francisco-based environmental research firm Global Energy Monitor (GEM) says a global switch form blast furnace/basic oxygen furnace (BOF) steelmaking to the scrap-fed electric arc furnace (EAF) is happening slowly, with China and India still largely reliant on BOF technology.Currently, says GEM, the shares of capacity by steelmaking technology seem poised to shift from 69 percent BOF and 31 pecent EAF in 2022 to 68 percent BOF and 32 percent EAF in 2030, “and remain approximately the same through to 2050.”In a June website posting by Caitlin Swalec of GEM’s Steel Plant Tracker team, she says excess capacity and stranded assets loom on the horizon if new planned BFO projects come online—and if nations take measures to meet decarbonization goals.“The steel industry could face $518 billion in stranded asset risk as countries work towards meeting their long-term carbon neutrality commitments, if the 345.3 million metric tons per annum of emissions-heavy blast furnace /BOF proposed or under construction is fully developed,” writes Swalec.Up to $237 billion of those potentially stranded assets—or 45.7 percent—are located in China, according to GEM. Another $184 billion (35.5 percent) are in India. That means the two largest nations by population in the world, combined, are carrying…