SMU Community Chat with Philip K. Bell of Steel Manufacturers Association (SMA)

We’ll talk about how steelmakers globally are working to reduce carbon emissions. We’ll also talk about the growing recognition that carbon needs to be accounted for when steel crosses international borders – whether that be a carbon border adjustment mechanism (CBAM) or another tool.

Our discussion will go into the nitty-gritty of whether the US and the European Union can come to a common agreement on how to handle carbon emissions by 2024, the target date set when the two sides agreed to scale back Section 232 on the EU. The big picture: Could a carbon border mechanism one day replace or come on top of existing duties and tariffs?

We know there are a vexing number of policies and platforms aimed at addressing decarbonization. But recall, too, the panic over pig iron last year. The EAF steel industry rose to that challenge, initially seen as an existential threat, within a matter of weeks. Could CO2 emissions be cut with that same combination of resourcefulness, improved processes, and sense of urgency?

Finally, we’ll talk about the current steel market. The steel industry has seen its best years since World War II in 2021-22. Can that success continue into 2023, or will steel have to learn to survive again in the face of stiffer economic headwinds?

We’ll take your questions, too! As always, we’ll keep it to about 45 minutes. You can (virtually) drop in, learn something — and then get on with your day.

PS – If you’d like to see past Community Chat webinars, you can find those here.

By Michael Cowden, Michael@SteelMarketUpdate.com