First, raw iron ore, purified coal (or “coke”) and limestone are dumped into a scorching-hot blast furnace to produce iron metal. If the new furnaces are actually built, and if enough existing furnaces retire, the global steel fleet could consist of over 36 percent electric arc furnaces in 2030. As for replacing the blast furnace, the leading contender for that is direct reduced iron (DRI) production. A DRI plant that uses fossil gas typically emits 50 percent less CO2 than a coal-based blast furnace. (Researchers weren’t able to confirm the planned DRI capacity for SSAB’s steel project in Mississippi.)
