ArcelorMittal will prioritise electric arc furnaces (EAFs) and incremental emissions reductions over large-scale decarbonisation investments for now, including hydrogen direct reduced iron (DRI), due to slow adoption.
Revealed in its Q4 2024 results, the steel giant said it will “continue to optimise its decarbonisation pathway to ensure competitiveness and an appropriate return on investment,” but large-scale decarbonisation projects are “advancing at a slower pace than originally anticipated.”
The Luxembourg-based company attributed this to “insufficient policy [and] market developments.” It added, “Current investments are focused on the new EAF ag Gijón (Spain) and the EAF expansion at Sestao (Spain) which are intended to further expand the company’s offering of XCarb low-carbon emissions steel.”
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