Last year, Masdar and Emsteel in the United Arab Emirates announced a pilot project to use green hydrogen in the production of green steel. This initiative marks a critical step in the steelmaking process, aiming to reduce the environmental impact by utilizing renewable energy sources. While green steel is currently produced in limited quantities, Emsteel is looking to expand its production capacity. However, the high cost of green hydrogen in comparison to gray hydrogen and natural gas presents a significant barrier to scaling up production. The article highlights the potential growth of green steel as an important commodity, especially in markets like Europe and East Asia where carbon regulations are expected to become stricter in the future. This shift towards green technology not only signifies a move towards sustainable practices in the steel industry but also presents lucrative export opportunities for companies investing in green steel production.