EU Competitiveness Council to ensure long-term viability of EU steel sector

Tuesday, 10 November 2015 14:17:52 (GMT+3)   |   Istanbul
       

The EU Competitiveness Council has agreed on the need to take concrete actions that will help ensure the long-term viability of a modern European steel sector. 

The Council said that the EU steel sector suffers from major global overcapacity in production, which pushes down prices and encourages trade distorting behavior from competing regions. High energy costs are eroding margins and the resulting closure of steel plants is costing thousands of jobs. 

The statement released by the Council pointed out that discussions should be intensified or launched involving all important steel producers in the context of the OECD Steel Committee and through the EU Commission's bilateral steel dialogues with third countries like China, Russia, Belarus, Turkey and India.

Another concrete action that should be taken is to make full and timely use of the full range of EU trade policy instruments to ensure a global level playing field and to address restrictive measures in third countries in particular as regards the steel sector.


Similar articles

EUROFER: Urgent action needed to preserve EU steel production during decarbonization process

25 Mar | Steel News

Industry representatives: Only strong industrial fabric in Europe can ensure just green transition

22 Feb | Steel News

ArcelorMittal to receive funding for decarbonization projects at Bremen and Eisenhüttenstadt

07 Feb | Steel News

WV Stahl: German steel industry’s electricity needs will increase amid decarbonization efforts

23 Jan | Steel News

EUROFER: Economic uncertainties to continue in the coming period

17 Jan | Interview

EUROFER: Putting EU scrap supply at risk undermines decarbonization efforts

14 Dec | Steel News

EUROFER: Absence of global arrangement on steel jeopardizes EU steel industry’s decarbonization efforts

29 Nov | Steel News

Sciamarelli: Steel output and consumption continue to decline in EU

28 Nov | Steel News

EUROFER calls on EU and US to address carbon-intensive excess capacity

13 Oct | Steel News

Traders at IREPAS: EU may adjust quotas amid higher long product imports

19 Sep | Steel News