Abstract

The steel industry, which contributes approximately 7-9% of global greenhouse gas emissions, faces mounting pressure to decarbonize in alignment with the Paris Agreement’s climate goals. Nowhere is this challenge more pressing than in Asia, which dominates global steel output with a 73% share. A recent study by Li et al. (2025) explores an innovative strategy to support this transition: importing “green” Hot Briquetted Iron (HBI)—iron ore reduced using renewable hydrogen—from resource-rich countries such as Australia, Brazil, and South Africa.