It is absolutely viable to produce steel with much lower emissions. Hell, doing so would be a competitive advantage. We don't need to be stuck with centuries old technology.
Go ahead and do it. If you are right, you will make a lot of money.
I've heard many such theories from people who never smelled molten iron, but actual factory owners say that it is not viable without truly massive subventions and massive tariff protections, which aren't that far from trying to build a decarbonized autarky.
A big steel foundry in Třinec delayed their decarbonization project in May 2025, for two years, because it just isn't competitive against cheaper steel from Asia and the European authorities, while being very vocal about green tech, aren't giving out billions left and right to compensate.
I'm sorry, but you don't ask the fox if the chicken coop should be protected.
Of course their capitalist interest would suffer if they had to make investments, but I don't really care if the monopoly man can have one fewer yacht.
I'm sure that would disrupt some business models. But we'd still being using steel (but perhaps not as much).
Of course importing cheap steel produced without the same regard for emissions would have to be forbidden.
That's very country dependent. In Germany, some "actual factory owners" founded kindergartens and maternal leave, before it was enforced by activists. They first understood that not everything is about money and they need to look their employees in the eyes when they sit next to them in the church on Sunday and also understood, that a happy, worry-less employee is an employee that can focus on the work and work harder. Lenin said about the Germans, that they are to lazy to do a revolution, but I think the actual issue is, that German countries mostly got rulers actually interested in the well-being of the population.
In Germany a lot of regulation used to be introduced by grassroots movements and was followed voluntarily and later the state adopted the winner of the regulation competition. See TÜV, FSGV (basically a random association deciding how to build roads that the state just adopts) etc. A large part of German economic and social failure is, that we don't have that culture of self-regulation and enforcement anymore.
It has nothing to do with decarbonization and everything with them having no idea how to compete. It's all the same across your northern border with coal - the coal miners want a graceful phase out because they understand that Australian pit-mined coal is cheaper despite being hauled across the world, but the owners want to keep the status quo and associated government subsidies.
So they lost all the ideas since the 1980s or so, when they were top of the heap?
Maybe, but increasing cost of inputs has more than nothing to do with economic balance of any business. Even regular households feel the increase in heating and electricity costs. A factory which needs orders of magnitude more energy will feel them even more.
Cheap energy is very important to any industry, no way around it. That is why China builds so many power stations.
The playing field simply isn't level, the ideas are there, the technologies are there but you can't compete if the competition is not bound in the same way.
> The playing field simply isn't level
It never was. European and Western countries had a significant head start. There should be a "right for CO2 emission" per capita offered for countries that didn't industrialize and are way behind. And exported CO2 shouldn't count.
How is life treating you? Are you doing well?
Those people who have large investments in traditional production facilities? Hmm, I wonder what they have to say about disruptive tech on the horizon..