

(Posted on 09/09/22)
The European steel industry has called on EU policymakers to provide immediate relief against high energy prices and costs also for energy-intensive industries exposed to international competition. Conventional trade and energy policy measures are clearly insufficient and would seriously put at risk of survival these sectors, which are the backbone of the EU’s value chains.
“The current gas and electricity prices threaten the viability of steelmaking in Europe, while third country producers not subject to such constraints or whose governments do not take similar action against the Russian aggression take advantage of the situation by exporting massively to the EU at distorted prices. As a consequence, in Europe we are witnessing steel plant closures, production curtailments and layoff programmes. The war in Ukraine and the subsequent, necessary EU sanctions against Russia have thrown the EU into an exceptional crisis which requires exceptional and immediate measures by EU policymakers to prevent the destruction of Europe’s industrial base, going beyond the EU’s usual ‘rule book’, including swift trade emergency measures”, said Axel Eggert, Director General of the European Steel Association (EUROFER). “The current crisis undermines the business model of several energy intensive industries, which are the backbone of entire industrial value chains. This means concrete risks for high value jobs, investments and know-how in Europe to the advantage of third countries that benefit from far lower energy prices and do not share the same level of climate ambition”, he added.
An EU-wide response is necessary for Europe to overcome the emergency, while pursuing further integration of the national energy markets. Given the severity of the crisis, a package of different solutions is needed, and no option should be left off the table.
If EU institutions do not take urgent measures also for energy intensive industries exposed to global competition, their survival is highly uncertain. However, preliminary Commission proposals fall short in this regard. “The European steel industry is ready to contribute to the efforts of European policymakers in developing concrete solutions to overcome the crisis and deliver a more united and prosperous EU”, concluded Mr. Eggert.
EUROFER AISBL is located in Brussels and was founded in 1976. It represents the entirety of steel production in the European Union.
Cargill continues to advance its growth strategy in the Brazilian market and reinforces its investment... Read more
Anglo American plc has announced the completion of the sale of its 33.3% minority interest in Jellinbah... Read more
Rafael Rivera has been appointed the new Country Manager Mexico of the end-to-end raw materials supplier... Read more
Tropical Cyclone Sean delivered record rain along parts of the Pilbara coastline of Western Australia... Read more
Rio Tinto has released fourth quarter production results. Chief Executive Jakob Stausholm said: &ldquo... Read more
Trafigura Group Pte Ltd. has published its 2024 Sustainability Report, highlighting the Group’... Read more
The International Longshoremen’s Association and the United States Maritime Alliance, Ltd. have... Read more
Further to the announcement of 2nd August 2024, Vitol B.V. has now completed the acquisition of... Read more
As part of a research and development programme, Rio Tinto is assessing the potential for extracting... Read more
Trafigura Group Pte Ltd, a market leader in the global commodities industry, has released results for... Read more