Japanese steelmaker Tokyo Steel has launched a new brand of ultra-low carbon steel called "Near Zero" and begun selling it in the domestic market. The company has achieved a significant reduction in carbon emissions from 0.4 tons of CO2 per ton of steel to just 0.1 tons through the use of electricity generated without fossil fuels.

In addition to purchasing renewable electricity, Tokyo Steel will also add its own solar generation capacity and collaborate with Kyushu Electric Power to further lower emissions. The Near Zero brand covers all products manufactured at Tokyo Steel's four plants in Japan, with an additional premium of 6,000 yen (approximately $37) per ton compared to regular steel.

This move comes shortly after Tokyo Steel partnered with Stemcor in June to launch its "enso®" green steel brand, which will help the company maintain and expand its presence in the European Union market until the full implementation of the Carbon Border Adjustment Mechanism (CBAM). The enso® brand will initially be used for hot rolled coil (HRC) and hot rolled plate (HRP) production.

In 2023, Japan reduced its overall steel production by 2.5% compared to 2022, down to 87 million tons, ranking the country 3rd globally in steel production according to WorldSteel. Japan's steel exports in 2023 reached 32.2 million tons.