Within the Carbon2Chem (R) project, new processes have been developed to valorize steel mill gases by producing methanol. This article compares the global warming impact of integrated steel and methanol production to the stand-alone production of steel and methanol. In order to generate mass and energy balances of the cross-industrial network, several simulation approaches were conducted, and two power sources investigated. In the case of a power mix in 2030, the conventional production of steel and methanol is favorable, and in the case of wind power, the integrated production of steel and methanol shows greater benefit. If an electricity mix with a carbon intensity of less than 0.23 kg(CO2-eq.)kWh(-1)electricity is used, the integrated production of steel and methanol has a lower global warming impact than stand-alone steel and methanol production.