EESC: EC’s action plan insufficient for steel industry

The European Economic and Social Committee (EESC) has stated that the action plan of the European Commission (EC) for the European steel industry is not enough and has called for short-term and more concrete solutions alongside the long-term action plan.
 
According to the EESC, being reliant on sectors such as the automobile and construction sectors, the European steel industry has been hit extremely hard by the economic crisis. Many production facilities have been closed, resulting in the loss of over 60,000 jobs.
 
The EESC pointed out that "in particular, careful consideration must be given to the special features of the sector. For example, the increases in electricity prices across the EU should be compensated, and climate change targets for the steel industry need to be technically and economically feasible".
 
Accordingly, some urgent measures suggested by the EESC include undertaking a detailed evaluation of existing capacity, facilitating the use and transport of scrap, and preventing illegal exports and boosting demand in steel downstream sectors.