Germany's Interfer Edelstahl Handelsgesellschaft, a steel trader, has entered into a memorandum of understanding with Singapore's Meranti Green Steel for the procurement of environmentally friendly hot-rolled coil destined for the European market. Meranti is currently constructing an electric arc furnace-based steel plant in Thailand, set to produce 2-3 million tons per year of HRC starting in 2028. This initiative aligns with Meranti's focus on utilizing renewable energy sources like direct reduced iron (DRI) and green hydrogen to achieve a significantly lower carbon footprint by 2040. Additionally, Meranti has partnered with Green Steel of WA to produce DRI in Western Australia, supporting its operations in Thailand.