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China's steel industry accelerates low-carbon transformation to create new competitive advantages.
Release time:
2021-09-15
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On September 14, 2021, Li Xinchuan, Secretary of the Party Committee and Chief Engineer of the Metallurgical Industry Planning and Research Institute, and Foreign Academician of the Russian Academy of Sciences, was invited to attend the "2021 FMG Technical Forum" and delivered a keynote report titled "Reshaping the Development Pattern of China's Steel Industry with Low Carbon as the Guiding Principle."
On September 14, 2021, Li Xinchuan, Secretary of the Party Committee and Chief Engineer of the Metallurgical Industry Planning and Research Institute, and Foreign Academician of the Russian Academy of Sciences, was invited to attend the "2021 FMG Technical Forum" and delivered a keynote speech titled "Reshaping the Development Pattern of China's Steel Industry with Low Carbon as the Leader."
Characteristics and Trends of China's Steel Industry Development
As a fundamental industry of the national economy, the steel industry is an important indicator of a country's comprehensive national strength and level of industrialization, and is one of the most hardcore manufacturing industries. The Chinese steel industry has five main characteristics: supporting the rapid development of the national economy, being a typical technology-intensive industry, making the world a better place, being the most globally competitive industry domestically, and leading the development of the world steel industry for a long time.
To date, the Chinese steel industry has achieved "5G" competitiveness (good scale, good price, good product, good brand, good service) and is currently in a phase of reduction in quantity, a phase of restructuring in high quality, and a transitional phase of strengthening environmental protection, all overlapping, and is evolving towards a low-carbon phase in high quality. In the future, low carbon will lead the Chinese steel industry to form a new supply-demand balance, promote new technological advancements, create a new industrial pattern, establish a safe supply chain, and build a prosperous ecological circle.
From the current operation status of the Chinese steel industry, the growth rate of crude steel production is narrowing, steel consumption continues to grow, steel trade is showing new changes, iron ore prices have continued to fall after a peak, corporate profit levels are continuously improving, and steel prices remain stable. Considering the macroeconomic environment, industrial policies, and the development of major downstream steel-consuming industries, it is expected that the demand for steel in China will hover at a high level in the short term; however, under the guidance of the carbon peak and carbon neutrality goals, the demand for steel will show a slow decline in the medium to long term.
Opportunities and Challenges for China's Steel under the "Dual Carbon" Goals
In the context of global low-carbon development, whoever achieves low-carbon transformation first will take the initiative in future competition. In recent years, more and more countries have proposed "green new deals" and clarified low-carbon goals. The proposal of China's "3060" goal is an important strategic decision to coordinate the two major situations of international and domestic, and represents a historic revolution in production, consumption, technology, economy, and energy systems. Compared to the previous two goals, China's new peak target and carbon neutrality vision are more ambitious, demonstrating the responsibility of a major country and fully reflecting China's determination and confidence in low-carbon development.
The Chinese government places great importance on the implementation of the "dual carbon" goals, accelerating the solid and orderly advancement of various tasks, continuously introducing low-carbon related policies, improving the carbon emission trading mechanism, and officially launching the national carbon emission trading market. In this context, the Chinese steel industry, as an important area for implementing carbon reduction, faces both opportunities and challenges. From the perspective of opportunities, low-carbon development will help the Chinese steel industry build a higher level of dynamic balance between supply and demand, optimize process structure, promote technological revolution, facilitate intelligent upgrades, accelerate deep collaboration across multiple industries, jointly promote environmental governance, deepen the concept of the entire product lifecycle, and assist in the industry's low-carbon standardization work. From the perspective of challenges, the low-carbon transformation of the Chinese steel industry is time-sensitive and task-heavy, requiring peak and carbon reduction work to be achieved in a short time; most enterprises are at the initial stage of low-carbon development, with weak foundational capabilities in technology and talent; the development levels of different enterprises vary significantly, leading to different levels of low-carbon development and carbon reduction potential; there is a significant gap in the proportion of short processes, the cost competitiveness of electric furnace steel is generally weak, and optimizing process structure still faces obstacles; moreover, the coverage of green design products is insufficient.
In line with the national "dual carbon" work nodes, the low-carbon transformation of the Chinese steel industry must go through four stages: reaching the carbon emission peak, steady decline, significant decline, and deep decarbonization. At this stage, the Chinese steel industry has initially compiled a carbon peak and carbon reduction action plan. Focusing on key areas and tasks, the carbon peak and carbon reduction path of the Chinese steel industry mainly considers six aspects: first, promoting green layout; second, energy saving and improving energy efficiency; third, optimizing energy use and process structure; fourth, building a circular economy industrial chain; fifth, applying breakthrough low-carbon technologies; sixth, strengthening institutional construction and policy system support.
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