TMS Awards 2023TelestackViganPort of South LouisianaTOC AmericasPort of Stockton
  • TOC Americas
  • Port of Stockton
  • Van Aalst
  • TMS Awards 2023
  • Vigan
  • Telestack

Emergency measures required now to avert European steel crisis

Emergency measures required now to avert European steel crisis

(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.

Latest News

Rio Tinto completes acquisition of Sumitomo stake in NZAS

(Posted on 04/11/24)

Rio Tinto’s previously announced acquisition of Sumitomo Chemical Company’s (SCC’s... Read more


Vale and Jinnan announce investment in Oman iron ore concentration plant

(Posted on 31/10/24)

Vale and Jinnan Iron & Steel Group, a renowned Chinese steelmaker, have announced a joint partnership... Read more


Canadian tariffs on Chinese steel and aluminium products enter into force

(Posted on 26/10/24)

Tariffs on Chinese steel and aluminium products have entered into force following rigorous examination... Read more


Increased copper and iron ore production for BHP

(Posted on 19/10/24)

BHP have released their operational review for the quarter ended 30 September 2024.BHP Chief Executive... Read more


Safety a priority as Rio Tinto releases Q3 production results

(Posted on 18/10/24)

Rio Tinto is continuing to prioritise learning from safety incidents to improve the effectiveness of... Read more


IFA and Proba launch global programme for GHG emissions reduction

(Posted on 14/10/24)

The International Fertilizer Association (IFA) is partnering with supply chain decarbonization startup... Read more


Export Exchange 2024 wraps up as trade teams head across the USA

(Posted on 14/10/24)

Export Exchange 2024, sponsored by the U.S. Grains Council (USGC), Growth Energy and the Renewable Fuels... Read more


MPA welcomes UK Government’s commitment to fund CCUS

(Posted on 08/10/24)

The Mineral Products Association (MPA) has welcomed the Government’s pledge to fund the launch... Read more


Glencore’s Stephen Rowland elected Chair of ICA’s Board

(Posted on 08/10/24)

The Board of Directors of the International Copper Association (ICA) has elected Stephen Rowland, Glencore... Read more


NGFA highlights ‘trifecta of transportation trouble’ for US agriculture

(Posted on 01/10/24)

Potential disruptions to the nation’s shipping infrastructure could have a devastating effect... Read more


Van AalstCimbriaSailors SocietyBühler GmbHGeneva DryTBA Group
  • Port of South Louisiana
  • Geneva Dry
  • Bühler GmbH

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping