• Skip to main content

    Overseas

    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.

    Matthew Watkins

    Read more from Matthew Watkins

    Latest in Overseas

    US steel imports reach 15-month high in August, rise further in September

    Steel imports into the US crept higher in August and continued climbing in September, according to the Department of Commerce's latest import license data. August imports rose 3.4% from July to a 15-month high. September license data collected through Oct. 5 shows another 6.2% month-on-month increase. Imports continue to recover from some of the lowest levels since 2020, seen late last year through February this year.

    Price on Trade: Milwaukee Framework is a step forward on steel excess capacity

    Members of the Global Forum on Steel Excess Capacity (GFSEC) met in Wisconsin last week and unveiled an updated plan to combat market-distorting excess capacity. The Milwaukee Framework adds color to the 2017 “Berlin Principles.” It is also a positive step in the ongoing battle against global steel market distortions. However, the Framework is only a guidepost. It must be implemented correctly to make an impact as new problems loom.