New legislation and emissions trading increase pressures for the industry to find new environmentally sound solutions. This research analyses the utilisation of carbon monoxide (CO), formed in steel mills from the emissions reduction viewpoint. The research studies possibilities of combining steel and chemical productions from economic and environmental perspectives. The analysis includes considering emissions costs and electricity price, when CO is converted into chemical products. The results prove the economic profitability of a steel mill selling CO gas to a chemical producer instead of using it for energy production, while CO<sub>2</sub> emissions are simultaneously reduced.
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