Is the energy crisis driving Europe's steel industry to the Americas? | Transforming Business

Steel is a $1 trillion market and demand is rising. But production consumes a lot of energy - and is expensive. Are companies moving out of Europe to invest in South and North America because electricity is much cheaper there? And what about hydrogen powered 'green steel'?

Follow DW on social media:
#Transformingbusiness #steel

[lionelwong]

Not just steel industry, EU is fast losing its automotive industry.
VW cars can't sell.

[kelvinking]

Cheap Russia gas and oil was the recipe for success, now the opposite is true. Europe has lost the golden age of cheap products

[DutchFR]

everything in europe is too expensive. the netherlands is the 2nd largest food producers and yet food became so expensive that you have to cut your list in half.

[izzzzzz]

The only thing is that they forgot to mention is that you still need to import it all the way from the other side of the planet. Not very green then is it!

[pavelkazmin_rus]

Don't even know how more years will it take for Europe to comprehent it was US who undermined their economy😓

[grandemaestro]

EU and UK bowing to the US killed their own induatries

[nandotorres]

thank you US for blowing out the Nordstream Pipelines and force Germany to purchase US expensive gas and to make them less competitive

[asiimwesimon]

Deindustrialization of Europe can't be stopped

[AzureFire]

They forgot to mention that the cheapest source of freed up Hydrogen is Natural gas and it is made by a process known as steam reformation, this process releases carbon from the natural gas and oxygen from the steam and creates carbon dioxide. Hydrogen is not cheap and doesn't generate much heat per molecule. Coal is cheap and much more energy dense. This Green steal thing sounds a little fishy to me. I'll believe it when I see it.

[chenren]

American proxy war in Ukraine has 5 objectives:

1) decoupling EU/Russia energy sector
2) cripple Russia economy + devalue RUB
3) consume Russia miliary and test it's capacity
4) isolate Russia from Europe
5) steal gagentic Russian sovergien funds

This report makes some sense

[godzillamothra]

There is one thing the US learned from WW1 and WW2, wars in Europe drive economic growth away from Europe to the US. Is there any wonder why the US that is supposed to be in recession, is not in one but actually thriving, while the EU that is supposed to be growing, actually fell into recession due to Ukraine war? Remind me again who wanted to expand NATO the most to the Russian border?

[ViceCoin]

EU can't produce steel without cheap Russian gas.

[rizalukman]

To be honest Europe and US are really hard to compete with China, Russia and other Asian countries.The labour cost are very high and the raw material are very expensive

[caelansmith]

As an Australian, it really annoys me that our country has so much potential to make steel with either coal or green hydrogen methods. Our economy would be so much stronger if we had down stream value add rather than just exporting raw materials

[salahelackad]

As long as Europe is still thinking and acting as vassal states to the US and couldn't get over the complexes of the WW2, more and more losses will be incurred due to severance of the geosteategic relationship with Russia. Enjoy! And congratulations UNCLE SAM. The EU could have put an end to all the provocations and aborted all the Ukraine war if they took the matter in their own hands in lieu of the "farce of the Minsk Agreement or Accord"

[dxd]

As a Brazilian we proudly have more than 85% electricity from renewables. Actually our Power grid grew the second half of last century around hydropower.
The last years our other renewables sources soared, wind, solar, biomass, so we can diversify from rain dependency. Actually in Brazil, coal for electricity is something everyone always complained, because its dirtyer and more expensive then our already built renewable system 🤔
Other point is that the current Gov. is supporting home owners to invest in solar panels, which is a good policy because we high amounts of sunlight potential even in the winter.

[yftan]

European politicians seems not smart at all.

[Ben-Perlin]

If you want a more practical solution that will actually improve the climate you would build Gen IV or SMR nuclear plants for your energy. There is no solution to the climate crisis without nuclear

[alberthartl]

You guys need to cover Molten Oxide Electrolysis. This turns iron ore to steel in one process. Large scale production is a few years away but all indications are that it will be about 20-30% cheaper.

[cccc]

but we are told all day long that russia is suffering from war sanctions...🤣🤣