Chinese steelmaker HBIS Group has announced that it has signed an agreement with Italy for the supply of green steel. This agreement signals that the company’s competitiveness in global steel market is increasing, paving the way for Chinese steelmakers to actively respond to market requirements as a result of the EU’s Carbon Border Adjustment Mechanism (CBAM).
As part of the supply agreement, HBIS will ship over 10,000 mt of green steel produced using hydrogen to undisclosed Italian end-customers before late August this year. The company has provided its customers with an environmental product declaration (EPD) by managing to reduce its carbon emissions by 50 percent per metric ton of steel.
In the next step, HBIS will discuss with the customers the possibility of jointly building a green and low-carbon steel supply chain.
