Consumer product manufacturers such as Fiskars Group and automotive giants such as BMW and Mercedes-Benz are among the companies that prefer this product as a premium.
Outokumpu is known to have sold between 10,000 and 20,000 tons of Circle Green® since launch, with the majority of these sales going to customers in Europe. However, Schaar pointed out that demand in the US market remains lower, which he stated is due to the fact that existing products in the US already have a low carbon footprint.
Pointing out that Outokumpu's conventional stainless steel products emit only 1.5 tons of carbon dioxide per ton of production, Schaar emphasized that this value is much lower than its competitors. This success is attributed to the company's investments in technology to reduce carbon emissions. “Reducing carbon emissions is not just an option, it is a necessity for the continuity of our business,” Schaar stated, adding that investing in green technologies will decrease costs in the long run.
Schaar also highlighted the competition in the global steel market, noting that producers in Europe and the US have to contend with stainless steel imported from China, which has a very high carbon footprint. In this context, he argued that global carbon tariffs could accelerate the transition to a more sustainable supply chain in the steel industry.
These developments highlight that despite the growing demand for sustainable production methods, competition and cost containment in the global steel market remain challenging.
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