Government assistance in reducing carbon emissions plays an important role for metallurgy

A representative of Liberty Steel UK noted at a webinar for major international steel producers that the steel sector has a long investment cycle, roughly 25 to 40 years, and as China has seen rapid growth in production capacity since 2000, time average is low. the asset is approximately 13 years old.

Due to the capital-intensive nature of the industry and the potential current investment difficulties, government assistance is “very important to ensure that we can move quickly to a low-carbon future,” he said.

According to him, government assistance can vary from country to country depending on national priorities, and there are rules in the World Trade Organization, as well as at the national and regional levels, that determine the acceptable level of support that the government can provide.

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