The global steel industry, responsible for producing over 1.8 billion tons annually, plays a vital role in infrastructure. However, this sector's operations have raised significant environmental concerns and economic hurdles. In Europe, a region leading the charge for sustainability, the steel industry is undergoing a technological revolution. The concept of green steel is gaining momentum, driven by the necessity to reduce carbon emissions. ThyssenKrupp's blast furnaces, despite improvements, still release substantial CO2, emphasizing the urgency for transitioning to cleaner technologies. The European Union is at the forefront of promoting green steel through initiatives such as direct reduction plants that utilize hydrogen instead of coal, thereby cutting down on harmful emissions. While these advancements are promising, there are notable challenges ahead. Economic risks loom large, and uncertainties surround hydrogen availability and pricing, complicating the transition process. Moreover, the influx of inexpensive Chinese steel poses a threat to local jobs and industries. The success of Europe's green steel strategy depends on effectively mitigating these challenges and establishing a sustainable market for environmentally friendly steel products.