During a discussion at the Global Steel Dynamics Forum, Millett was asked whether SDI would jump into the export markets. He said that in the future, he believed the domestic industry potentially might find a home for more of its steel in Europe. 

Millett said energy costs are already high in Europe, and, in addition, billions of dollars in investment is being made there now to move the continent’s steelmakers to where their U.S. counterparts already are in terms of CO₂ intensity. 

“Someone has to pay for that,” he said. “We all can hope there is going to be a green premium, but eventually when the market forces take over (and more green steel is made), I’m not so sure it’s going to be as big as one would hope.

“At the end of the day, (European steelmaking) is going to be incredibly expensive compared to the U.S.,” he said.  

The Global Steel Dynamics Forum is taking place today at Tuesday in New York City. Check AIST Steel News for more updates.