Economics at your fingertips  

An integrated analysis of China’s iron and steel industry towards carbon neutrality

Xiaoyang Wang, Biying Yu, Runying An, Feihu Sun and Shuo Xu

Applied Energy, 2022, vol. 322, issue C, No S0306261922007814

Abstract: The iron and steel industry is a critical sector for achieving China’s carbon neutrality goal. However, existing studies lack considering the multiple constraints including limited resources, technology diffusion and carbon emissions reduction on design of carbon neutral pathway for iron and steel industry. A broader analysis that can integrate resources-technologies-emissions in to a united framework is necessary. To further explore the feasible paths and challenges faced by the iron and steel industry, this study developed the C3IAM/NET-IS (China’s Climate Change Integrated Assessment Model/National Energy Technology-Iron and Steel) model to select the optimal technology portfolios. By incorporating 11 measures such as technological innovation, structure adjustment of raw material, clean energy, etc., the integrated impact on CO2 emissions, energy consumption, raw materials, and costs is analyzed, while the carbon neutral pathway for the iron and steel industry is further investigated. The results show that CO2 emissions of China’s iron and steel industry would peak at about 1514.14–1530.86 million tonnes before 2023. And there would be more than 72.78 million tonnes of CO2 in 2060, requiring carbon sinks to absorb to achieve carbon neutrality. During 2020–2060, the most effective measure would be the promotion of energy-saving technologies, which would contribute about 22.07% of CO2 emission reduction. Compared to the EAF (Electric Arc Furnace) with 50% scrap, promoting EAF with 100% scrap would result in cumulative total costs savings of about 4361.04 billion CNY while consuming 15.14 billion tonnes of scrap. To coordinate the goals of carbon neutrality and raw material security, it is necessary to support domestic iron ore enterprises through tax relief and to accelerate the large-scale construction of the scrap recycling industry.

Keywords: Carbon neutrality; Iron and steel industry; Technology optimization model; CO2 emissions; Iron ore; China (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Ordering information: This journal article can be ordered from
http://www.elsevier. ... 405891/bibliographic

DOI: 10.1016/j.apenergy.2022.119453

Access Statistics for this article

Applied Energy is currently edited by J. Yan

More articles in Applied Energy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().

Page updated 2023-05-18
Handle: RePEc:eee:appene:v:322:y:2022:i:c:s0306261922007814