China’s Younger Steel Industry Slows Net Zero Path, BHP CEO Says
The cold-rolling workshop at a steel production facility in Shanghai, China.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China’s steel industry is young compared to Europe’s, and its transition to net zero may be slower as it takes a different path to reach government-mandated decarbonization goals, according to BHP Group Ltd.’s Chief Executive Officer Mike Henry.
While certain unique factors have led European steelmakers to make faster plans to carbon neutrality, China may be at a disadvantage in the global race to remove carbon from heavy industry because its blast furnaces are younger and not due for retirement anytime soon, Henry said in remarks prepared for delivery at the China Development Forum in Beijing on Sunday.