According to the Financial Times the steel industry emissions accounted for 7–9% of total greenhouse gases emissions worldwide in 2019. The main contribution to those emissions is directly related to the use of fossil coke and coal as fuels and reducing agents. Four solutions can be adopted to address such issue: direct reduction with hydrogen or syngas, electric arc furnaces, carbon capture and storage and use of biofuels (for example the so called “biocarbon”). These solutions can be also integrated. We propose applying innovative methods to produce biocarbon by pelletizing charcoal with pyrolysis oils and reheating it at high temperatures, to obtain materials with sufficient hardness, reduced porosity and proper reactivity. Once upgraded biocarbon can comply with the requirements usually needed for metallurgical coke. We present in this paper the results of a technical and economic analysis plus an environmental analysis on the expected final use of biocarbon in the silicon and steel industry.