Falling cost of renewables and hydrogen could allow green steel to be produced for A$716-948/t by 2050
Green steel could reach cost parity by 2050
Use of hydrogen in supply chain and co-location of manufacture with renewables could greatly reduce cost of green steel production, according to Oxford University study
Green steel produced using hydrogen can reach price parity with steel made using traditional carbon-intensive processes by 2050, according to a study by researchers at Oxford University’s Department of Engineering Science. The study modelled 12 different supply-chain formats for meeting Japanese demand for steel from Australian iron ore. Japan is the world’s second-biggest steel exporter after China. Under a model where high-quality renewables are used to power manufacturing facilities next to iron ore reserves in Western Australia, the falling cost of renewables and hydrogen mean steel can be produced for A$716-948/t ($500-661/t) in 2050, the study found. The current steel price is highly v
Also in this section
25 March 2026
The Middle East energy shock has highlighted the value of France’s unique potential to deploy nuclear-powered electrolysers
18 March 2026
The second fossil-fuel price shock in four years can be a much-needed catalyst for investment in the sector
9 March 2026
Hydrogen has not stalled in the UK because the technology does not work. The problem is that the system around it does not yet move at the speed required
4 March 2026
Turmoil in Middle East reminds nascent clean hydrogen sector that its future prospects are dependent on global energy markets and geopolitics
