Global Energy Monitor's 2026 report reveals the steel industry is expanding coal-based blast furnace capacity faster than it is retiring old plants. Around 319 million metric tons of new coal-fired capacity is under development globally, set to grow net capacity by 88 million metric tons by 2035. China & India account for 86% of this new coal investment. Meanwhile, cleaner electric arc furnace technology grew its global share by just one percentage point last year, to 34%.