Baowu Group has invested 8.5 billion yuan to build a zero carbon hydrogen metallurgy demonstration project at its Zhanjiang base. It is expected to achieve full process carbon neutrality in steelmaking by 2030, and the hydrogen reduction process can reduce carbon emissions by 90%.

The EU Carbon Border Adjustment Mechanism (CBAM) has been officially implemented, increasing the cost of Chinese steel exports by 12-15%. Shagang Group has invested 3 billion yuan to renovate the short process production line of electric arc furnaces.

The Tesla 4680 battery case is made of Baosteel ultra-high strength steel, and the price of non oriented silicon steel for new energy vehicles has exceeded 12000 yuan/ton, with an annual demand growth of 35%.

The yield strength of the new steel reinforcement has been increased by 40% and has been certified by the Japan Academy of Building Research. It will be used in super projects such as the Tokyo Bay Subsea Tunnel.

The Ministry of Finance will increase the proportion of value-added tax levied and refunded on scrap steel to 70%. It is expected that by 2025, China's scrap steel resources will reach 350 million tons, and the proportion of electric furnace steel will increase to 25%.