India–US Trade Tensions Rise Over Steel and Auto Tariffs NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
European steelmakers could reduce costs and emissions by importing green iron rather than producing it entirely within the region, according to a study by Agora Industry. The research suggests that sourcing hot briquetted iron (HBI) from countries such as the Middle East, North Africa, Brazil, and South Africa could cut steel production costs in Europe by 12–15% by 2040.
Green iron production is the most energy-intensive part of the steelmaking process. By importing this intermediate material, European producers could ease pressure on local energy systems, improve cost efficiency, and enhance supply chain resilience.
The report outlines a phased strategy: first, phasing out blast furnaces in favor of hydrogen-based direct reduced iron (DRI) plants alongside renewable energy expansion; second, creating a robust EU green steel market; and third, forging international partnerships to secure diversified and stable imports.
Experts believe that trade in green iron could become a cornerstone of Europe’s industrial policy, enabling the continent to remain competitive while pursuing its climate commitments under the EU’s Clean Industry Agreement.
Also Read : EU to Halve Steel Import Quotas and Impose Tariffs Up to 50% Nokia introduces AI assistant for industrial workers
Aluminium prices on Monday declined by 0.17% to ₹202.20 per kilogram in the futures market as partic...
Non-Ferrous 11-Mar-2024
India’s steel ministry has deferred a decision on increasing the 12% provisional safeguard dut...
Taxation 17-Jun-2025
Indian steel companies are likely to slow down their capacity expansion plans as rising steel import...
Business 12-Mar-2025
1️⃣ Jindal Stainless' ₹40,000 Cr investment will boost domestic stainless steel capacity.2️⃣ The pla...
Business 28-Mar-2025
The National High Speed Rail Corporation Limited (NHSRCL) has achieved another major milestone in th...
India 04-Sep-2025
JSW Group is gearing up for a substantial investment of $5 billion in electric vehicle (EV) projects...
Large Corporate 23-Jan-2024