On May 30, the Ministry of Finance issued the “Opinions on Financial Support to Achieve Carbon Neutrality at peak Level”, specifying six key directions and areas for financial support, among which green and low-carbon transformation in key industries is one of them. Under the support of this policy, the iron and steel industry will accelerate the pace of “double carbon”.

Steel is a basic material with rigid demand. But at present, resource bottleneck and environmental pressure are becoming more and more intense to the development of iron and steel substantial constraints. China’s steel industry consumes about 20% of the country’s coal and emits about 15% of its carbon dioxide, ranking first in the manufacturing sector. In the implementation of the national “double carbon” strategy, the iron and steel industry shoulders a great responsibility, facing great pressure. It is an important task for the iron and steel industry to seek realistic, effective and economical emission reduction mode and path.

General Secretary Xi Jinping’s important speech and the country’s top-level design document have provided some clear ideas for the subject. General Secretary Xi Jinping pointed out in Shaanxi Yulin Chemical Company inspection on September 13, 2021: “Coal chemical industry potential is huge, promising, to improve the comprehensive utilization of coal as a chemical raw material efficiency, promote high-end, diversified, low-carbon development of coal chemical industry.” The guidance on Promoting the High-quality development of iron and steel industry released in February this year mentioned that “actively promote the coupling development of iron and steel and building materials, electric power, chemical industry, non-ferrous industries, improve the comprehensive utilization efficiency of solid waste resources such as steel slag”; ”2030 Carbon Peak Action Plan” proposed to “tap the potential of energy saving and carbon reduction, encourage the combined production of tempering”, indicating that the state has put forward the industrial coupling cycle development idea for the iron and steel industry to achieve the goal of “double carbon”. In this issue, we will explore this path in depth.