The European Steel Association (EUROFER) has stated that the latest developments in the steel industry endanger the green transition of steelmakers and their main manufacturing customers in Europe, such as automotive. Noting that a Clean Industrial Deal is the last chance to protect the European steel industry from cheap imports driven by third countries’ unfair trade practices and overcapacity, EUROFER stated that, without it, Europe will inevitably become an industrial museum powered by clean Chinese and American technologies.
Regarding the situation of the European steel industry, the association reported that the EU produced only 126 million mt of crude steel in 2023, the lowest level ever recorded, resulting from halted or delayed investments due to lower margins caused by weak demand and cheap imports.
In addition, EUROFER stated that cheap exports, not only from China but also from other steel producing regions of the world, such as South Asia, Middle East, India and Japan, are being rerouted to the EU. “We need a radical change in EU policies to reboot our competitiveness. This is the last train for Europe’s decarbonization and prosperity,” Axel Eggert, director general of EUROFER, commented.
