Baosteel inks MoU for greener auto steel supply chain

Baoshan Iron & Steel (Baosteel), the listed arm of the world's top steelmaker China Baowu Steel Group, has signed a Memorandum of Understanding (MoU) with Beijing Benz Automotive Co (BBAC) to jointly build a low-carbon and green auto steel supply chain by using greener raw materials for automobile production, according to a release by Baosteel via its official WeChat account on November 22.

Baosteel, thus, will become the very first steel producer in China to supply steel with significantly-reduced carbon emissions to automakers from 2023, the company release noted. Starting 2026, Baosteel will reduce carbon emissions of steel used in vehicles by 50-80% via the hydrogen-based shaft furnace-electric-arc furnace process, compared with traditional