Europe’s green steel ambitions falter as energy costs take toll

The push for greener steel production in Europe faced setbacks as ArcelorMittal declined over €1bn in subsidies for hydrogen conversion, citing high energy costs, while SSAB reported delays at a low-emission plant. Executives warn that without urgent action, the EU’s climate goals and steel decarbonization projects are at risk, compounded by competitive pressures from cheaper imports.

Explain It To Me Like I’m 5:

European steelmakers are struggling to switch to greener production methods because the cost of energy is too high and there are not enough customers for their eco-friendly products.

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