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There is massive investment happening in green steel production. There is a high demand for green steel from car manufacturers among others. It's easy to dismi

• londons_explore 4y ago
  Car manufacturers at the moment are happy with "100% recycled with carbon free processes" for their steel. That means you take scrap steel, put it in an electric arc furnace, and power that furnace with matching wind/solar contracts. So far, carmaking uses less steel than comes into recycling plants, so it hasn't really caused any change in the market.
  • Danieru 4y ago
    Are you basing this on real knowledge or a guess？ My understanding, from when I lightly researched Japan Steel as a stock, was that car makers want fresh steel with higher guaranteed performance. Thus they can use less steel and reduce weight. Since vehicles are mobile the reduced weight will have a much bigger carbon reduction than from using recycled steel.
    • steve76 4y ago
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    • _trampeltier 4y ago
      We make welded steel tubes primary for car industry, and as far I know, we also use just "new" steel. Still, since 2 years or so, in all our mail signatures is something about an green steel award we won. But they just anounced, our factory will be closed by end of 2023.