Serbian President supports the development of "green steel" in HBIS
Serbian President Aleksandar Vucic met with HBIS Group Chairman Liu Jiang in Beijing last week, and Vucic confirmed his support for joint projects in the field of green energy and low-carbon production, according to media reports.
Vucic noted that the modernization of the Smederevo steel plant, acquired by HBIS in 2016, has benefited the Serbian economy and strengthened cooperation between the two countries. He promised to continue supporting environmental initiatives at the plant, according to China Daily.
Liu Jian, in turn, thanked the Serbian side for its continued support and stated that the HBIS Serbia project will continue to develop with an emphasis on environmentally friendly technologies and production modernization.
Both sides noted the progress in the work of the joint Chinese-Serbian laboratory for environmentally friendly steel, established within the framework of the "One Belt, One Road" initiative and operating jointly with the University of Belgrade. The company has already achieved results in the field of hydrogen metallurgy, including the processing of ore into direct reduction iron (DRI) with an efficiency of 99.74%, as well as the development of high-strength steels for the automotive industry, according to a media report.
In January, Serbia introduced a six-month quota system for the import of certain types of steel products. Since January 1, the country has adopted new laws on greenhouse gas emissions and taxes on imports of carbon-intensive products, which have entered into force. Both fees will be charged at 4 euros per ton (USD 4.66 per ton) of CO2 equivalent.
This is the country's response to the recently introduced Carbon Boundary Regulation Mechanism (CBAM) by the European Union and its equivalent. The European Commission's proposal to raise tariffs on imported steel will directly affect the Chinese–owned steel mill in the country - HBIS Group Serbia Iron & Steel.
Two HBIS furnaces can produce about 2.2 million tons of steel per year, while Furnace No. 1 alone has a capacity of about 900,000 tons of steel per year. The company's product range includes hot and cold rolled products, etched rolls and electrolytic tin.
According to wordlsteel, steel production in Serbia in January-April decreased by 23.7% year-on-year and amounted to 388,200 tons.
Author: Svyatoslav Abrosimov
Kallanish.com