Global Cement (GC): How have granulated blast furnace slag (GBFS) supplies changed recently? Charlie Zeynel (CZ): Several factors have led to reduced GBFS supplies since the start of 2022. The first is lower steel demand, particularly in China. Blast furnace closures have been another feature, with Japan alone announcing the closures of blast furnaces that produce 2Mt/yr of GBFS. Closures are mainly driven by rationalisation and ongoing de-carbonisation of steel production. This also means fewer blast furnaces and less GBFS in the future.
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