Recycler Sims Metal is proving to be one of the big winners for investors as the global steel industry, a sector that makes up about 8 per cent of the world’s carbon emissions, makes its first steps along the difficult path to decarbonisation.

Sims shares jumped by as much as 17 per cent on Tuesday after earnings before interest and tax climbed almost sixfold to $362 million in the December half, as the company benefits from robust demand from steel-makers wanting to use recycled steel as feedstock in their operations.