so i'm assuming there's like in berlin, recent days of seeing europe take new steps towards the commercial production of green steel steel, that's essentially carbon neutral and production and transport. on friday, the auto supply companies that f out of germany struck a major deal with hydrogen producer h 2 to supply green still in the coming years. on the same day, the steel maker chosen quote, rolled out it's hydrogen production, arm caught new sarah to public investors who promptly put a 2 and a half 1000000000 euro evaluation on the company. of the message seems to be clear . there's a lot of anticipation around green still, but the market is still young and there are plenty of questions before production begins on a commercial level. and we'll talk to an expert about that in just a moment. but 1st, here's an example of how green steel is produced. this steel mill is located right by the baltic sea in northern sweden. is the world's 1st successful pilot project for steal production using climate neutral hydrogen. the intermediate material for

steel production is stored in this hole in the form of small pellets obtain from the raul product iron or a rotary cone is then used to refine the iron or rock the. the next step is to increase the iron contents of the pellets. this involves them being heated with hydrogen and then melted down. so what we're doing here is if testing of technology, other things to replace the blast furnace and the blast furnace uses cold instead of what we do here with high to them to refine the lord into iron. we weren't allowed to fill in the process as it's an industry secret, but here's how it works. the 1st off is producing green hydrogen electricity from renewable sources, like wind or solar power, is used to split water view. electrolysis the in products,

oxygen in climate neutral hydrogen, or h to this has been fed into the hybrid blast furnace and used to further increase the iron content of the pig iron pellets. the in a 2nd stage. liquid steel is been produced in the electric art furnace. the the process is being held as a break through that will usher in a new era in industrial history. you'll get a bit blind of 2 while, while we're working with this all the time. but when it's like one step back to think about it is, it's quite the stone, this thing will test being that you've there in just a couple of years. at the s s a b steel mill, they want to completely replace the old technology, which requires a lot of coal. everything will be powered with green electricity in the future. all the furnaces and the new rolling build. the green steel is set to get the green

light in a couple of years. the new technology saves a lot of c o 2, and it's much more efficient. we say that from starting to model the scratch for the sponge, i run into an electric arc of them seem to have a finish, a car that we could actually send to customers. it's roughly 3 hours right now. the overall manufacturing process still last several days. but with green steel also meaning lower costs. demand is sure to grow the cool folks is a managing director and partner at boston consulting group. she joins me for more. nicole, welcome to the show. i want to begin with said f in this deal. is this the beginning of a long term trend that parts manufacturers, in this case for the automobile industry, are going to need to commit to green steel production in order to meet their own goals? yes, sure. and do you know, the good thing is that the european steel industry is on its way to, to liver um,

for those parts manufacturers. so all the players have concrete plans. how to keep harping noises. and if all announcements materialized, then roughly 40 percent of the europeans ask when his capacity will be converted to replace brake reduced you or, you know, as you hands were come online like to one, you quoted endodontics you've written about this idea of a green steel premium that is, that there is going to be much higher demand initially for green still than there will be production. even with that premium in place isn't green steel. the production is going to be so much more expensive. how or firm's going to overcome that gap? are we seeing plans working with governments, for example, to overcome that gap? i mean, generally to say that in 2030 and that's to year we're talking about scale will be in generally more expensive regardless of color. i mean, the green card, which you're talking about,

you said you would be about 70 percent or $70.00 more expensive than 2 days graced you. however, grace you will be also more expensive, you know, given the carbon price, which will be charging 2030. so but however, to put this into perspective, yeah, if you just look at the standard car to g carbonized value chain, it's about 2 percent more expensive. this would mean to just you and that is a new car. it's 250 to 300 bureaus. and i mean, this is not so much less, you know, 1st assessments of the end consumer sent and then say there is to rally, billing us to pay for next year requirements. so it just makes me hopeful that we work at the same time, aren't we hearing companies say that to make these long term investments and things like electrolyzer is that they're going to need some government help. and here in germany for example, i know there's been a lot of complaints that they haven't seen a clear roadmap towards that help. yeah, we certainly, or just the,

the industry certainly needs help and just comes in different forms and shapes. so if you want to replace a ton of old capacity, new capacity, you need to spend or roughly a 1000 bureaus per ton. so in how dusted come to the balance sheet of just you players do not have to string. so we need kept big support. but also what you are mentioning is, you know, the infrastructure to renew of a c, h 2 component. so we need to, after set up, read easily that the state industry can use and then you set up stuff this world can start buying greenest you. yes. all right, those cap ex expenses, of course, meaning a capital expenditures i want to ask, do we even really have a definition for green still at this point, isn't that one of the, the tricky points or yeah, your right, you know how is being defined? i mean to less carbon embedded into production degree known to materials as, and i don't care so much about, you know, what shades of reading already having. so i would, or if you do read this sort of,

you, it's about 4 or less than $400.00. you know, grams per sewage per ton of still embedded. and we don't have to as yet, you need to have 4 green hydrogen power plan for that. but everything which is below 1500 kilograms of c o 2 per ton starts getting green. i'm so this is the trajectory, but we need, you know, to come close to your around 400 kilograms. and briefly do companies even have the means to track those carbon emissions across their entire value chains? well, it is not that easy. you 1st have started inmate announcements as they can, so you need to calculate upfront our carbon footprint, ideally real time, nothing average over a year. and only if you have this as a prerequisite. then of course you can achieve to premium. we talked earlier. all right, nicole fucked as a managing director and partner a boston consulting group, specializing in metals. thank you very much. thanks for me. let's take

a look now at some of the other global business stores making headlines. chinese producer prices dropped in june at the fastest pace in 7 years. the index reflect surprises, the factories charged wholesalers. they fell by 5.4 percent from last year. the weak domestic demand changes, consumers are wary of spending on big ticket items such as cars is your opinion. and new zealand signed a free trade deal on sunday. following 4 years of negotiations, bilateral trade in goods was worth over 9000000000 euros and 2022. and both parties expected will increased by 30 percent within a decade due to the use already new zealand. 3rd largest trading partner exporting a particular wind fruit and meet to europe. west african heads of state have elected nigeria is new president, bowler, ok, med teen to new booth to lead the economic community of west african states or echo was to do both set and security and terrorism were the biggest threats the regions development was,

was founded in 1975. the aims to promote economic cooperation among its 15 member states. egypt inflation has sorts of an all time high of 36.8 percent. the country grapples with an economic crisis. egypt compound, his wife had lost half its value against us dollars since early last year. and that's left the family struggling to cope in the import dependent country. it's the latest moved by the taliban through the press ask in women as of next month. all beauty salons in the country have to be shuddered. the shops were off the last refuge for women who are already banned from schools, most jobs, and even public spaces. and for some women, the new band takes away their very livelihoods, a business, a strong that this beauty paula in, cowboy, for now like thousands in the city. the salon is one of the last remaining places where women can gather, chat and gossip, and even bring some color to that daily lives outside these walls. there's not much

to do for them. the ultra religious tele bond regime has banned women from nearly all parts of life and drops, leaving many with few options to provide for the families. i've been working here for a year now. and the tyler bond has issued an order say they want to close the beauty salons before i say to them, please don't do this. we work here to earn some more for money. schools are ready fund for women. now the silence will be 2 dozen women have the right to live in society of beauty potter's mushroom to trust. couple with and other ask in cities in the 20 years that us led forces occupied the country to a couple of chamber of commerce. estimates that more than 50000 ask and women work into sector a spokesman for the totally bonds, ministry for the promotion of virtue and prevention of vice gave no reason for the

order to close all stores. but the policy fits the groups general ideology. likely a factor and the beauty pablo band, the fact that many women even own their businesses, a loft. as of that, i'm sorry. i haven't invested $7000.00 here. all the savings i had. yes. no, i'm worried and i don't know what to do because i'm sure there is no one here to buy the equipment. when the beauty parlors shots, i don't want them to go to school, but some testing to how to do this or i haven't done anything contrary to islamic teaching and i'll accept any rules from natal about but i don't want to coast myself a long shot. the united nations assistance mission enough guy has done, has appealed to authorities to revoke the salon order was limited hope of success. and that's our shelf. you can find out more about these and other stories online at dw dot com slash business, were also on youtube under the dw news channel. i'm assuming there's

a blend. thanks for watching the

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