Global crude steel production is estimated to grow by around 4% through to 2030 from a level of 1.89 billion tonnes (bnt) in 2023 to around 1.97 bnt in 2030, The share of the primary blast furnace-basic oxygen furnace (BF-BOF) route in global steel production is projected to shrink to 60% in 2030 from 71% in 2023, as per data, while the share of the electric arc furnace (EAF) in steel production may reach around 40% from 29% in 2023.According to this estimate, EAF-based steel production worldwide may rise to a level of 788-790 mnt by 2030 from around 550 mnt in 2023. By the same token, the share of the BF-BOF route is likely to fall around 12% by 2030, with production expected to drop to 1.18 bnt from 1.34 bnt in 2023.
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