International Steel Prices
November 24, 2021
CRU: A Hydrogen Economy Would Create Huge Steel Demand
Written by Matthew Watkins
By CRU Principal Analyst Matthew Watkins and Analyst Iris Speelmanns, part of CRU’s steel and the energy transition series
When we think about hydrogen and steel, we generally focus on steel supply. Hydrogen is a possible alternate reductant, replacing coke and offering a pathway to low-CO2 steel production. But a hydrogen economy could also be a huge driver of steel demand. Here we set out some thinking on the enablers of, and barriers to, a hydrogen economy, some ideas on how it might be structured, and where and how much steel it could consume.
