Australian mining company BHP has stated that global steel demand will increase amid the global energy transition. BHP said “Demand for steel would almost double over the next 30 years, compared to the last 30.”The company expects steel demand to increase as infrastructure projects for decarbonization increase demand for wind and solar plant equipment. The increase in steel demand will be offset by the decline of fossil energy demand and slower economic growth due to physical climate impacts and carbon policies.
Australian mining company BHP has stated that global steel demand will increase amid the global energy transition. BHP said “Demand for steel would almost double over the next 30 years, compared to the last 30.”The company expects steel demand to increase as infrastructure projects for decarbonization increase demand for wind and solar plant equipment. The increase in steel demand will be offset by the decline of fossil energy demand and slower economic growth due to physical climate impacts and carbon policies.
