The "untouchable" reputation of metallurgical coal could be disrupted if the steel industry replaces it with hydrogen to reduce CO2 emissions, according to BloombergNEF. In a report, analysts said hydrogen could make up between 10% and 50% of production by "mid-century" if renewable gas prices fall below $$310//kg and coking coal costs 2.20ton. ArcelorMittal and Thyssenkrupp are already testing alternatives to metallurgical coal, while CitiGroup said the direct reduced iron ore extraction process, which uses gas, is behind around 6% of global steel output.
The "untouchable" reputation of metallurgical coal could be disrupted if the steel industry replaces it with hydrogen to reduce CO2 emissions, according to BloombergNEF. In a report, analysts said hydrogen could make up between 10% and 50% of production by "mid-century" if renewable gas prices fall below $2.20/kg and coking coal costs $310/ton. ArcelorMittal and Thyssenkrupp are already testing alternatives to metallurgical coal, while CitiGroup said the direct reduced iron ore extraction process, which uses gas, is behind around 6% of global steel output.