SIFW 2021: High-grade iron ore to be in demand in China decarbonization push

High-grade iron ore is likely to be increasingly in demand with China's plan to reduce carbon emissions in its mammoth steel industry, speakers said on Tuesday July 13 in the Singapore Iron Ore Forum 2021.

Xinchuang Li, Chief Engineer of China Metallurgical Industry Planning and Research Institute (MPI), shared his outlook of iron ore in the low-carbon emissions evolution of the Chinese steel industry during the forum.
The steel industry's carbon emissions, accounting for around 15% of total emissions from the Chinese manufacturing sector, were the largest among 31 manufacturing categories, Li said.
To promote the high-quality, low carbon-emissions development of the Chinese steel industry, three trends are needed, Li said. These include smart digital technology, advanced low-carbon process technology, and collaboration in governance and industries.

Five major methods of support are also required, including financing, preferential tax policies, carbon...

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