Only the UK, EU, Canada, and New Zealand apply comparable carbon pricing (£30-£70/tCO2e), responsible for 155 million tonnes of steel or 8.2% of global steel production in 2022.
Japan and South Korea apply carbon pricing of around £10/tCO2e and produce 155 million tonnes of steel or 8.2% of global steel production in 2022.
The rest of the world either applies carbon pricing of less than £3/tCO2 or no carbon pricing at all. This means that 91.8% of global steel production does not face carbon pricing comparable to the UK, if at all.