Other analysis confirm that unsubsidized electrified steel is only cost-competitive with conventional steel with dramatic decreases in electricity price (Figure ). Fully electrified, inert anode aluminum is nominally cost competitive today, though technically challenging, and becomes increasingly favored over aluminum production with carbon anodes at low electricity prices. Trends with CO2 intensity are similar (Figure ): fully electrified routes approach zero carbon intensity as grid intensity decreases, while coal and natural gasdominated production routes are independent of grid CO2 intensity.