Market Data
Global Steel Climate Council Issues Statement Ahead of G7
Written by Becca Moczygemba
April 13, 2023
The Global Steel Climate Council (GSCC) has released a statement ahead of this month’s G7 climate meetings.
 GSCC said that the International Energy Association (IEA) has indicated that a concise carbon emissions measurement standard for the steel industry is imperative for achieving global climate goals.
GSCC said that the International Energy Association (IEA) has indicated that a concise carbon emissions measurement standard for the steel industry is imperative for achieving global climate goals.
G7 leaders were encouraged by the IEA to focus on the five existing standards for emissions measurement methodologies, despite acknowledging the need for the standards to be amended, according to the statement. The organization agrees that the most effective path for change is a single, global standard and clear methodology.
GSCC has announced that it will release a draft of its steel emissions standard. The release date for the report was not specified.
“GSCC’s standard has three important objectives: 1) provide a single, technology-agnostic protocol that would apply to all steel producers equally on a global basis; 2) allow all steel customers to know and compare the carbon emissions associated with steel products; and 3) create an industry standard for achieving the emissions reduction goals in the Paris Climate Agreement by 2050,” the council said in the April 13 statement.
Recall the GSCC is an international initiative with the goal of setting a global standard for green steel, and a cleaner steel industry. More information about the GSCC can be found here.
By Becca Moczygemba, becca@steelmarketupdate.com
 
			    			
			    		Becca Moczygemba
Read more from Becca MoczygembaLatest in Market Data
 
		                                SMU Mill Order Index fell in September
SMU’s Mill Order Index declined in September after repeated gains from June through August. The shift came as service center shipping rates and inventories fell.
 
		                                North American auto assemblies slipped in September
North American auto assemblies declined in September, down 5.1% vs. August. And assemblies were also down 1% year on year.
 
		                                HARDI: Galv demand improves in October, higher prices expected in new year
Participants on this month’s Heating Air-Conditioning & Refrigeration Distributors International (HARDI) Sheet Metal/Air Handling Council call expect galvanized steel base prices to firm up in the first quarter of 2026.
 
		                                AISI: Raw steel mill output stabilizes
Domestic mill production inched higher last week, according to the latest figures released by the American Iron and Steel Institute (AISI). Prior to the start of this month, raw output had remained historically strong since June.
 
		                                Steel market chatter this week
What's on steel buyers' minds this week? We asked about market prices, demand, inventories, tariffs, imports, and other evolving market trends. Read on for buyers' comments in their own words...
