Establishing an edge in green steel for Australia
Mr Simon Nicholas, Lead Energy Finance Analyst, IEEFA
With increasing international competition in the green iron industry, how will Australia ensure its position?
China’s demand for iron and steel from Australia is on the wane, with new high-grade iron ore supplies available, the seaborne iron ore market is set to enter significant oversupply later this decade, with an impact on prices.
“Now is the time for Australia to consider what its iron ore sector needs to look like in the longer term,” says Simon Nicholas, Lead Energy Finance Analyst with the Institute for Energy, Economics and Finance (IEEFA).
Green iron projects are in their early stages in Australia, with South Australia leading the way. However, Simon warns that Australia is facing growing international competition in the green iron space.
“A first wave of green iron hubs can be expected in places that have both high-quality iron ore and a decarbonised power grid. This will open up opportunities for Canada, Brazil and parts of Africa”
Simon Nicholas will discuss the challenges involved in transitioning to green steel, at the HiTEMP-4 Forum, where he will present “Low-carbon iron hubs: Australia faces growing global competition”.
The HiTeMP Forum, brought to you by the University of Adelaide, the Institute for Sustainability, Energy and Resources, the HILT CRC and Mission Innovation's Net-Zero Industries Mission, will be held from 21-23 October 2024 at the National Wine Centre Adelaide. Early bird ticket prices have been extended until August 30. Register today.