Ensuring a Secure and Sustainable Supply of Steel and Aluminium

Ensuring a secure and sustainable supply of steel and aluminium

KEYNOTE: David Leal-Ayala, (University of Cambridge)

Steel and aluminium have a critical influence over the global economy, mostly driven by their large global market size, low substitutability, their importance as industrial inputs, and their linkages with other resources (e.g. energy). However, there are no immediate concerns about the scarcity of these materials despite the fact that the world's demand is growing and likely to double (steel) or even triple (aluminium) by 2050: iron ore, coking coal and bauxite are plentiful in the earth's crust. In addition, both steel and aluminium enjoy high end-of-life recycling rates. Nonetheless, there are concerns over the emissions associated with material production in a high throughput economy: one third of the world's carbon emissions are emitted by industry, most of which are related to producing five key materials including steel and aluminium. These industries are energy-intensive, so have always been motivated to be efficient. This session will discuss the main sustainability constraints affecting steel and aluminium and the means by which they may be overcome to ensure a secure and sustainable supply.