Nippon Steel shifts to recycled metal in green race
2021-03-02 12:53:04 [Print]
Nippon Steel Corp., Japan's top producer, is shifting its focus to recycling the metal as ambitious net-zero emission targets intensify a race to develop cleaner steel.
Taking steps toward decarbonization is one of the pillars of Nippon Steel's mid-term business plan starting April, Executive Vice President Katsuhiro Miyamoto said last Friday. As part of its efforts, the company is working on research to build much larger electric-arc furnaces, which are used to make steel from scrap, to mass produce the metal, he said.
Steelmakers are under pressure to respond to net-zero emission targets set by governments in Europe, China and Japan, which is aiming to become carbon neutral by 2050.
The world's third-biggest producer has been making steel from mined iron and coal in more polluting blast furnaces for more than a century. While electric furnaces release only a fraction of carbon dioxide compared with blast furnaces, it's still a challenge to make high-quality steel because scrap contains impurities.
In addition to making more high-quality recycled steel, streamlining operations at aging facilities in Japan and expanding outside the shrinking domestic market will be the focus areas in Nippon Steel's mid-term business plan, Miyamoto said.
Domestic demand and exports will decline in the long term as Japan's population shrinks and more countries try to make steel for their own market, said Miyamoto. The country's crude steel output will fall further to 80 million tons eventually, he said, compared with 98.4 million yen last fiscal year.
Taking steps toward decarbonization is one of the pillars of Nippon Steel's mid-term business plan starting April, Executive Vice President Katsuhiro Miyamoto said last Friday. As part of its efforts, the company is working on research to build much larger electric-arc furnaces, which are used to make steel from scrap, to mass produce the metal, he said.
Steelmakers are under pressure to respond to net-zero emission targets set by governments in Europe, China and Japan, which is aiming to become carbon neutral by 2050.
The world's third-biggest producer has been making steel from mined iron and coal in more polluting blast furnaces for more than a century. While electric furnaces release only a fraction of carbon dioxide compared with blast furnaces, it's still a challenge to make high-quality steel because scrap contains impurities.
In addition to making more high-quality recycled steel, streamlining operations at aging facilities in Japan and expanding outside the shrinking domestic market will be the focus areas in Nippon Steel's mid-term business plan, Miyamoto said.
Domestic demand and exports will decline in the long term as Japan's population shrinks and more countries try to make steel for their own market, said Miyamoto. The country's crude steel output will fall further to 80 million tons eventually, he said, compared with 98.4 million yen last fiscal year.
