The Australian Steel Institute conference in Sydney has heard a two-pronged public policy approach is needed to meet a forecast tripling in global demand for steel as Australia transitions to clean energy and net zero emissions. In a keynote address to the ASI conference on 10 October, ASI Chief Executive Officer Mr Mark Cain said boosting local steel supply chain capability would relieve supply chain pressure on Australian energy providers and keep the economic benefits in Australia.ASI’s two-pronged approach calls on state and federal governments to set local content targets for steel and provide industry development support.ASI is calling on state and federal governments to imposeLocal steel content targets modelled along similar lines to the Victorian renewable energy targets or the NSW Renewable Energy Sector Tender Criteria. Minimum local content requirements set by the Vic Government under the VRET are 64% for renewable energy facilities, including 90% steel products from locally milled steel.Industry development support along similar lines to the Federal Government’s AUD 1.3 billion Modern Manufacturing Initiative, which helps Australian manufacturers scale-up, collaborate and commercialiseAustralian Steel Institute is the body for the Australian steel industry. ASI represents the entire steel supply chain, from manufacturing mills to end users in building and construction, heavy engineering and manufacturing. Steel generates 100,000 jobs and $29b in revenue in Australia.
The Australian Steel Institute conference in Sydney has heard a two-pronged public policy approach is needed to meet a forecast tripling in global demand for steel as Australia transitions to clean energy and net zero emissions. In a keynote address to the ASI conference on 10 October, ASI Chief Executive Officer Mr Mark Cain said boosting local steel supply chain capability would relieve supply chain pressure on Australian energy providers and keep the economic benefits in Australia.ASI’s two-pronged approach calls on state and federal governments to set local content targets for steel and provide industry development support.ASI is calling on state and federal governments to imposeLocal steel content targets modelled along similar lines to the Victorian renewable energy targets or the NSW Renewable Energy Sector Tender Criteria. Minimum local content requirements set by the Vic Government under the VRET are 64% for renewable energy facilities, including 90% steel products from locally milled steel.Industry development support along similar lines to the Federal Government’s AUD 1.3 billion Modern Manufacturing Initiative, which helps Australian manufacturers scale-up, collaborate and commercialiseAustralian Steel Institute is the body for the Australian steel industry. ASI represents the entire steel supply chain, from manufacturing mills to end users in building and construction, heavy engineering and manufacturing. Steel generates 100,000 jobs and $29b in revenue in Australia.
