EUROFER highlights challenges for steel industry at European Steel Day

Wednesday, 26 June 2019 00:19:49 (GMT+3)   |   Istanbul

At its annual conference, European Steel Day 2019: Transitioning to the Future of EU Industry, held on June 26, the European Steel Association (EUROFER) highlighted the challenges the steel industry is currently facing, namely, the very difficult situation of the industry, the EU steel safeguard, and the need to support innovation if the sector is to successfully decarbonize.

Key points on the European Steel Day 2019 agenda are the slowing demand for steel this year, booming imports, and the need for carbon emissions reduction to be recognized by the EU as a global challenge, not one that unfairly burdens European steelmakers, EUROFER noted.

According to EUROFER, the safeguard must work to impede the unfair imports that are distorting the EU market. These imports are risking the survival of domestic producers. A dynamic sector emerging from a year of growth on its domestic market is being forced to cut jobs and production.

Regarding decarbonization, EUROFER president Geert Van Poelvoorde said that various pathways to achieve this are being tested by a range of steel companies. However, funding for these projects has to come from many different sources. He also pointed out that the CO2 allowance cost of €45 per ton is a cost constraint that non-EU producers do not face. These relatively small price differences can have a significant impact on open market competitiveness when faced with volume from other players that do not face the same costs, Mr. Van Poelvoorde said.

Most Recent Related Articles

EUROFER: EU steel exports fall in January-April

Ex-EU scrap deal price range gains clarity with new sales to Turkey

Local molybdenum and ferromolybdenum prices in China - week 31

Spanish Competition Authority launches steel cartel probe

Tata Steel UK explores switch to EAFs, unions concerned