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Business Times
3 days ago
- Business
- Business Times
Asia's coal-reliant steel giants stall green transition: panellists
[SINGAPORE] Asia's steel giants are slowing the global green transition, as top producers China and India drag their feet on decarbonisation amid high costs and weak market demand – stalling progress in one of the world's top-emitting industries. During a panel discussion at Singapore International Ferrous Week last week, Claire Chong, senior analyst at shipbroker Thurlestone Shipping, said the steel industry's carbon-cutting efforts are being 'significantly delayed' largely due to the market's continued preference for cheap, low-grade iron ore over higher-grade alternatives essential for cleaner production. 'In the longer run, we are expected to move towards the higher grades. But right now, we are still not really seeing that demand very significantly… especially from China. I think their emphasis is still on cost-cutting,' she added. China, the world's dominant steel producer accounting for more than half of the global output, has been delaying its decarbonisation commitments. It continues to rely on coal-dependent blast furnaces and prefers cheap, low-grade iron ore over the high-grade variety essential for less carbon-intensive steelmaking. Jitendra Nanda, managing partner at Polish trading firm Balta, noted in a panel discussion that India, the world's second-largest steel producer, imported 5.1 million tonnes of metallurgical coke in 2024, up 35 per cent on the year. While the steel industry is responsible for 10 per cent of human carbon dioxide emissions, about 70 per cent of the global steel today is still produced by coal-fired blast furnaces, said Dr Lars Schernikau, shareholder of Germany-based commodity trading firm HMS Bergbau in his keynote speech last week. A NEWSLETTER FOR YOU Friday, 12.30 pm ESG Insights An exclusive weekly report on the latest environmental, social and governance issues. Sign Up Sign Up Alongside this, tepid demand for premium-priced green steel in Asia and the steep capital outlay required to overhaul production methods are further dimming prospects of cleaning up one of the world's most carbon-intensive industries. Industry players told The Business Times that Chinese buyers, a critical market force, have become increasingly 'price-sensitive' and are willing to buy low-grade ore as long as the price is attractive. This has driven up the supply of low-grade iron ore, and further stalled the already sluggish green transition. Not fired up by other options too Shifting to high-grade iron ore to enable steelmaking with cleaner energy sources, such as hydrogen, is widely seen as a viable path forward. The industry could also reduce emissions by recycling steel scrap through electric arc furnaces and capturing carbon from coal-based blast furnaces. However, China still lacks a carbon market, and the creation of one will not be happening anytime soon, highlighted Rodrigo Echeverri, director of Carbon Research. Since there is no penalty for the emissions, low-grade ore will be around for a long while, he noted. Meanwhile, replacing coal-powered furnaces to facilitate scrap recycling remains a costly hurdle, with the high capital expenditure proving prohibitive for many mills. Zhang Xinzhi, trader at Sino Crown International, pointed out that with Chinese steelmakers projecting declining margins, they are not willing to 'invest in air' and, hence, are delaying high-cost efforts that could result in lower returns. Dilemma is bad news for green goals The same story is being told about India. Amita Khurana, group chief of raw material procurement at Tata Steel, noted that relying on coal is still 'the most economical and optimal' way to produce steel. 'Coking coal is here to stay in the foreseeable future,' she said, highlighting the importance of coal for India's energy security and the need for a balance between decarbonisation and industry survival. Other parts of Asia have also been dealing with challenges related to the green transition. Hiromasa Yamamoto, executive vice-president of Japanese trading firm Hanwa, highlighted that securing a sufficient amount of quality scrap for recycling is another impediment given the current production needs. Meanwhile, the demand for green steel is also insignificant in Asia as major steel buyers are unwilling to swallow the premium prices, which could be more than US$200 per tonne. Yamamoto noted that while demand for green steel is high in Europe, it is still soft in the East, including Japan. He added that no country in Asia, except for Singapore, can afford the premiums for green steel.
Sydney Morning Herald
10-05-2025
- Sport
- Sydney Morning Herald
How crime and punishment do, and don't, work in the AFL world
Loading 'Those are my principles, and if you don't like them, well...I have others' - Groucho Marx. North Melbourne's Paul Curtis received a three-match suspension for a chase-down tackle, in which there was no intent to cause injury and his considerable momentum carried his opponent, Port Adelaide's Josh Sinn, into the turf, causing a concussion. Willie Rioli was first spared from sanction for allegedly threatening an opponent, Bulldog Bailey Dale, in a message after the game. When it emerged that Rioli had allegedly also made threatening comments to Geelong and Essendon opponents – incidents that neither club felt serious enough to raise hackles about – the AFL flipped, not the bird, but their position, handing Rioli a one-match ban. By the time Rioli was suspended, the ban was irrelevant because he'd already chosen to withdraw from the Showdown against the Crows, having been understandably exhausted and drained by the mini-saga. The AFL's initial clemency only made his situation worse. Noah Balta received a lenient four-match ban for a serious assault that resulted in a conviction in court. The magistrate took matters out of AFL hands and, with a touch of Solomon's wisdom, sentenced Balta to a curfew that will remove him from several more games. If Richmond were unhappy with the double jeopardy (triple, if you count the $45,000 settlement to the victim), they would know that many working stiffs – and even club staff – would be sacked by their employer for such an offence, the perception of which shifted dramatically once the footage was aired. GWS player Josh Fahey copped the same ban as Balta for his part in an utterly tasteless skit in which he was nude and played the part of ex-NRL star Jarryn Hayne with a blow-up doll (Hayne's conviction for rape having been overturned on appeal). Fahey's skit warranted suspension, but on a moral scale, it wasn't within cooee of Balta's real-life assault. How did the AFL judge them in the same post code? The magistrate's judgment embarrassed the AFL.
The Age
10-05-2025
- Sport
- The Age
How crime and punishment do, and don't, work in the AFL world
Loading 'Those are my principles, and if you don't like them, well...I have others' - Groucho Marx. North Melbourne's Paul Curtis received a three-match suspension for a chase-down tackle, in which there was no intent to cause injury and his considerable momentum carried his opponent, Port Adelaide's Josh Sinn, into the turf, causing a concussion. Willie Rioli was first spared from sanction for allegedly threatening an opponent, Bulldog Bailey Dale, in a message after the game. When it emerged that Rioli had allegedly also made threatening comments to Geelong and Essendon opponents – incidents that neither club felt serious enough to raise hackles about – the AFL flipped, not the bird, but their position, handing Rioli a one-match ban. By the time Rioli was suspended, the ban was irrelevant because he'd already chosen to withdraw from the Showdown against the Crows, having been understandably exhausted and drained by the mini-saga. The AFL's initial clemency only made his situation worse. Noah Balta received a lenient four-match ban for a serious assault that resulted in a conviction in court. The magistrate took matters out of AFL hands and, with a touch of Solomon's wisdom, sentenced Balta to a curfew that will remove him from several more games. If Richmond were unhappy with the double jeopardy (triple, if you count the $45,000 settlement to the victim), they would know that many working stiffs – and even club staff – would be sacked by their employer for such an offence, the perception of which shifted dramatically once the footage was aired. GWS player Josh Fahey copped the same ban as Balta for his part in an utterly tasteless skit in which he was nude and played the part of ex-NRL star Jarryn Hayne with a blow-up doll (Hayne's conviction for rape having been overturned on appeal). Fahey's skit warranted suspension, but on a moral scale, it wasn't within cooee of Balta's real-life assault. How did the AFL judge them in the same post code? The magistrate's judgment embarrassed the AFL.
07-05-2025
- Politics
More than 25 protesters arrested after taking over University of Washington building
More than 25 people were arrested after a group occupied an academic building at the University of Washington, demanding the school sever ties with Boeing as the war in Gaza continues, according to the university and a spokesperson for the group. A group called Students United for Palestinian Equality and Return claimed it was behind the takeover, with a spokesperson telling ABC News that all of the people who entered the building were arrested. ''They were all arrested and legal and political support is ongoing for them," the spokesperson, Oliver Marchant, said in a text, adding, "All arrested except one were inside the building -- some of those arrested were also injured during arrest and need medical attention." About 30 people were arrested on charges that included trespassing, property destruction and disorderly conduct, Victor Balta, a university spokesperson and assistant vice president for communications, said in a statement. Some of those arrested were charged with conspiracy to commit all three of those charges, Balta said, adding that they would be referred to the King County Prosecutor's Office. "Any students identified as being involved will also be referred to the Student Conduct Office," Balta said. The school said in an earlier press statement that "a few dozen individuals" had entered the Interdisciplinary Engineering Building just prior to its 5 p.m. closing. Campus police were called to the scene, the university said in a statement to ABC News. Police officers are seen on the University of Washington campus during an occupation of a building by protesters, in this screengrab from a video supplied by Students United for Palestinian Equality and Return UW on March 5, 2025. Students United for Palestinian Equality and Return UW MORE: How campus protests of the past may inform pro-Palestinian student demonstrations Campus police, which were working with several other agencies, began clearing the area outside the building at about 10:30 p.m., Balta said. Protesters had worked to block the doors and also lit two dumpsters on fire in the street, he said. By 11 p.m., police had entered and began clearing the building. Prior to the arrests, the school said the "trespassers are mostly covering their faces and stacking building furniture near entryways." "To the best of our knowledge, everyone connected to the UW who does not want to be inside the building has left," the university said in a statement. "Individuals remaining in the building are trespassing and will face legal and student conduct actions." The group, which goes by SUPER UW and which identified itself as Pro-Palestinian, issued a series of demands for school administrators, including taking "Boeing out of the IEB," as the building they've occupied is known. The group asked for the building to be renamed. Boeing, an airplane manufacturer and one of the largest defense companies in the United States, has a long history with the University of Washington. The company, which previously was headquartered in Seattle, supplied about $10 million as a donation to aid in the construction of the $90 million engineering building, the school said in 2022, prior to construction. A press release from that time noted that "Boeing's relationship with the UW dates back more than a century." The group that was occupying the building sought, more broadly, to stop all donations from Boeing to the school. "Return any existing donations, financial investments, and eliminate all other material ties to Boeing," the group said. "Prohibit Boeing executives and employees from teaching classes or having any influence over curriculum." Balta in a statement said the school was "committed to maintaining a secure learning and research environment, and strongly condemns this illegal building occupation." The school also condemned the strong language in the protesters' press release, with Balta saying it "will not be intimidated by this sort of offensive and destructive behavior." ABC News' Tristan Maglunog and Erica Morris contributed to this report.
Yahoo
06-05-2025
- Politics
- Yahoo
About 30 pro-Palestinian protesters arrested after occupying University of Washington building
A group of about 30 pro-Palestinian students was arrested Monday night after occupying a building at the University of Washington in Seattle, setting dumpsters on fire and creating a "dangerous" environment, university officials said. The group, called Super UW, said on its Facebook page that it "launched an occupation of the new Boeing-funded engineering building" and was staging a protest over the aviation company's defense contracts and arms sales to Israel. Super UW said it took the action to mark the anniversary of Hamas' terrorist attack on Israel on Oct. 7, 2023 — in which 1,200 people were killed and 251 kidnapped — calling it a "heroic victory." "About 30 individuals who occupied the building were arrested [on] charges of trespassing, property destruction and disorderly conduct, and conspiracy to commit all three, will be referred to the King County Prosecutor's Office," university spokesperson Victor Balta said in a statement. The protest is a possible sign that this summer could see a repeat of the widespread pro-Palestine encampments, occupations and marches that took place on college campuses across the country last year. Balta said university police and other law enforcement officers began clearing away crowds of supporters, many wearing black masks, outside the building at 10:30 p.m. on Monday before police moved inside at 11 p.m. The group created a "dangerous environment" in and around the building by blocking entrances by stacking furniture and setting two dumpsters on fire in the street outside, Balta said. The university's statement also said it "strongly condemns this illegal building occupation" and an unspecified "antisemitic statement" made by a suspended student group on Monday. The statement said it would "not be intimidated by this offensive and destructive behavior." The Seattle Police Department referred questions to the University of Washington Police Department. The newly opened 75,000-square-foot Interdisciplinary Engineering Building, which cost about $102 million and opened this Spring, was partially funded by a $10 million donation from Boeing. Super UW posted on Facebook just before 9 p.m., on Monday, "SHOW UP TO THE IEB NOW!!! THE CROWD IS WHAT'S DETERRING THE POLICE FROM MOVING IN." The group claimed that the university had struck a deal to create a "pipeline of students into the Boeing workforce," and allow the company's executives control over its curriculum. At the same time, it accused the university of being complicit in the "mass genocide of Palestinian people." Greg Hyslop, Boeing's chief engineer and executive vice president of engineering, test, and technology, announced the partnership, saying it would allow the company to "partner more closely with the university on cutting-edge technologies." UW was the site of pro-Palestinian protests last year, when a three-week encampment ended when university management negotiated an end to the protest. Protesters at Columbia University in New York had planned to start a new encampment there last month, but activists failed to show. This article was originally published on
