The global steel industry is undergoing a historic shift toward low-carbon production. Over one hundred and fifty commercial agreements have been signed by major producers including ArcelorMittal, SSAB, Tata Steel, and thyssenkrupp, committing to supply steel with significantly reduced carbon emissions. Buyers now pay premiums of between one hundred and three hundred euros per metric ton for steel emitting just one metric ton of carbon dioxide per metric ton produced. However, a supply gap of thirty to fifty million metric tons annually in Europe alone means competition for green steel volumes will remain intense through the decade.