BHP Group CEO Mike Henry announced at the China Development Forum that China has recently been manufacturing steel at a lower rate than Europe.

Henry added that China is seeking in the coming period to rely on electric arc furnaces, which in turn rely on scrap steel as an alternative to traditional coal-based furnaces, but China suffers from a shortage of steel, which makes this task difficult for it.

Henry said that BHP Group, which specializes in mining and other Chinese companies, aims, like European companies, to remove carbon from the steel industry, but it will not reach that goal of carbon neutrality at the same speed that European and Western companies in general will reach. Because China suffers from the small size of its smelting furnaces.

It is worth noting that China contributes 50% of the global steel industry, while steel emissions represent 8% of greenhouse emissions polluting the environment, and China in March 2023 recorded record rates in terms of steel production, as China’s production rate rose 6.9% to 95.73 million. tons.