Economic reports or analyses from global steel industry experts

China's Flash Ironmaking Cuts Production Time to Six Seconds, Boosts Steel Output by 3,600-Fold After 10 Years of Research

Dec 10, 2024, 06:00 PM

China has announced a significant advancement in iron production with a new method known as flash ironmaking, which reduces the time required to produce iron from six hours to just six seconds. This breakthrough is expected to further increase China's already dominant position in the global steel market, where it currently produces 54% of the world's steel. The new process not only enhances productivity by a factor of 3,600 but also allows for the use of low-grade iron ore, potentially transforming the steel manufacturing industry. However, experts have raised concerns regarding the sourcing of reductants for the process, as China lacks sufficient natural gas or hydrogen, which are typically needed for such methods. The development follows over a decade of research and could have significant environmental benefits by streamlining iron production.