<
https://theconversation.com/chinas-greening-steel-industry-signals-an-economic-reality-check-for-australia-261863>
"Australia has flourished as an export powerhouse for decades. Much of this
prosperity has been driven by the nation’s natural endowment with two important
raw products for producing steel the traditional way: iron ore and
metallurgical coal.
Worth more than A$100 billion in 2024, Australia’s iron ore shipments to China
make up about 55% of everything we export there. But a transformation has been
taking place in China’s steel industry, which is under intense pressure to
decarbonise.
Earlier this year, Beijing formally expanded its national emissions trading
scheme to cover steel production. And just this month, it issued another decree
requiring steelmakers to increase their share of green energy in steel
production.
Prime Minister Anthony Albanese’s recent visit to China may have looked like a
celebration of normalised diplomatic or trade ties. Behind the scenes was a
quiet but critical economic pivot.
Australia’s economic future depends on whether it can green its exports fast
enough to meet the decarbonisation needs of its biggest market."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
