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Global steel investment is flat, but DRI-EAF production is gaining share in advanced economies. Steel is the backbone of the global economy. It is the skeleton of most of our infrastructure, buildings and factories, and a critical component of many products households rely on, from cars to dishwashers and bedframes. In industrialized countries, in-use stocks of steel range from 11 tons and 16 tons per capita.
Steel companies must consider both economic and other strategic factors in deciding whether to focus on onshore or offshore direct reduced iron production. The European steel industry is facing a fundamental challenge that will disrupt core steel production processes across the continent. Across the world (but particularly in Europe), steel companies are facing increasing pressure—from regulators, customers, investors, and society at large—to decarbonize production.
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