July 25, 2008

Japanese steel raw materials cost could rise over JPY 2 trillion

Japan Iron and Steel Federation launches development program for innovative iron making process in fiscal 2008 starting April to reduce carbon dioxide emission in worldwide steel industry.

Japan Iron and Steel Federation plans to develop technology to separate CO2 from CO2 rich blast furnace gas and technology to recover hydrogen from coke gas efficiently to utilize for reducing iron ore when Japanese government tries to halve the greenhouse gas worldwide by 2050 by developing new technology.

The federation also plans to start utilize those technology in commercial base between 2030-2050 targeting 30% CO2 reduction.