Malaysia-based cold rolled coil and steel pipe producer Mycron Steel Berhad has announced that it plans to launch its own green steel products by 2025 to meet the growing demand for green steel. The company noted that the high-quality and low-carbon products will be used in various industries that plan to reduce emissions such as automotive, construction and infrastructure.
In addition, as a move towards its aim of achieving carbon neutrality by 2050, Mycron Steel has signed a memorandum of understanding with Japanese steelmaker JFE Steel. Accordingly, Mycron Steel will integrate JFE Steel’s green steel under the brand JGreeX™ into its production process, becoming the first green steel manufacturer in Malaysia. JGreeX™ is expected to only form a small percentage of Mycron’s overall steel production, while global green steel demand is anticipated to increase by 2.5 times over the next five years. Roshan M. Abdullah, CEO of Mycron Steel, stated that green steel could account for 25 percent of global steel sales tonnage by 2030.