ArcelorMittal: decarbonization projects in question

(CercleFinance.com) - On Tuesday, ArcelorMittal called for greater visibility on European energy policy before advancing its plans to decarbonize its operations.


The steelmaker - which had previously expressed its intention to replace its blast furnaces with low-CO2-emission hydrogen plants - said that it is concerned about the particularly slow start-up of the green hydrogen market in Europe.

At the same time, the steelmaking process based on the use of natural gas (DRI) is not, in its view, a competitive solution in the immediate future.

Before making its final investment decisions concerning decarbonization projects at its sites, the Group believes it is necessary to have "full" visibility of the environmental policy pursued on the Old Continent, with the aim of guaranteeing its competitiveness in this context of rising production costs.

Particularly in view of imports from China, where the steel industry is in a situation of overcapacity, the company says it would like to see a change in 2025 in border carbon adjustment mechanisms (MACF).

The group, which points out that the 28.1% drop in its carbon emissions recorded since 2018 is largely due to the decline in its volumes against a backdrop of weak demand, is nevertheless maintaining its objective of achieving carbon neutrality by 2050.


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