Steel production costs by technology route, with stronger policies

Annual Cost (USD/tHRC), present value (2026 dollars)

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See Exhibit B2 in Appendix B for details on higher GX-ETS carbon prices (US$29/tCO₂ in 2030) and H₂ CfD funds (US$19 billion over 15 years). IThe values above exclude the impact of the CEV tax credit.

Source: RMI analysis