Green steel production faces significant delays, according to Dr. John Atherton of the International Iron Metallics Association, speaking in Amsterdam in April 2026. He warned that hydrogen-based steelmaking may not scale up until the late 2030s or early 2040s. Europe alone needs up to one point five trillion dollars in investment to make the transition work. Less than half of all announced green steel projects are currently under construction, reflecting deep uncertainty over costs and policy support.