Given material and energy inputs for metal production described above, the cost of reducing CO2 emissions from aluminum production is less than the cost of reducing CO2 emissions from steel production. In general, metal production costs are sensitive to the cost of energy inputs, and the related carbon intensities depend on the carbon intensity of those energy inputs. Figure shows the relationship of metal cost and electricity price. Of the steel production routes, BF/BOF steel is insensitive to the price of electricity, since energy is provided by coal and, to a lesser degree, natural gas. Energy demands for DRI/EAF are dominated by natural gas with some electricity. The fully electrified HDR/EAF pathway more cost-sensitive to the price of electricity and only becomes cost-competitive to the other production routes at electricity prices below $0.03/kWh.