Direct Reduced Iron produced with natural gas and melted in an Electric Arc Furnace reduces Scope 1 emission intensity to approximately 0.8–1.4 tCO₂/t crude steel — against India’s BF-BOF average of 2.5–2.8 tCO₂/t. This 60–70% reduction in CBAM-relevant Scope 1 emissions changes the EU market economics entirely. The pathway from natural gas DRI to hydrogen DRI is technically straightforward and commercially progressing through the SIGHT programme. This article maps the full cost and carbon arithmetic.