ICEDS Seminar. OECD Green Iron developments and implications for Australia

Global steel markets currently face a double challenge.

On the one hand, as in 2016, steel excess capacity levels, fueled by market distorting subsidies primarily in non-OECD countries, are rising again, and lead to a rise in steel exports particularly from China. This reduces prices and profit margin for steel companies. On the other hand, steel companies that jointly account for 8% of global CO2 emissions, face the need to decarbonize to comply with climate objectives, with excess capacity making this transition increasingly difficult.

In the midst of these challenges, key developments in green iron markets and trade are taking place, with iron and steel production becoming geographically separated.

This ‘green iron revolution’ provides opportunities for countries and companies along the steel value chain as well as for cost-efficient decarbonisation, but also leads to risks of undesirable policy competition, a further fragmentation of markets and challenges for developing economies to participate in this transition.

During this seminar, recent OECD Steel Committee work on these topics will be presented to allow for a discussion on implications for Australia and how global cooperation can help ensure that green iron developments provides solutions to the challenges the global steel industry faces.

The OECD is currently carrying out a global green iron project on these topics, with a dedicated case study on Australia.

Panelists: 

• Gianpiero Mattera is an economist in the Structural and Industry Policy Division (SIP) at the OECD, where he leads the OECD Steel Supply Chains Observatory, a key initiative that provides policymakers with actionable insights and data to inform decision-making and promote dialogue between industry and government stakeholders.
• Anna Lockwood is a junior policy analyst in the Structural and Industry Policy Division (SIP) at the OECD.
• Stephen Raes is Head of the Structural and Industry Policy Division at the Science, Technology and Innovation Directorate of the OECD, responsible for steel and shipbuilding.
• The discussion will be moderated by John Pye of the Research School of Engineering, ANU.

More information:

• This is a hybrid event with the option to attend online or in-person at The Australian National University.
• The event will be recorded and made available online.
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