EUROFER Calls for Swift Actions to Rescue the European Steel Industry

The announced measures are unlikely to stop the current trend of production curtailments and temporary lay-offs.

SEATTLE (Scrap Monster): The European Steel Association (EUROFER) noted that the emergency measures recently presented by the European Commission (EC) are not ambitious nor swift enough to bring down energy prices and preserve millions of jobs in various industrial sectors including steel. The association called for more effective emergency measures to preserve the regional steel industry.

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Axel Eggert, Director General, EUROFER said that the proposals by the EC show limited ambition and scope, as they will not reduce energy prices and costs for the steel industry towards a sustainable level. The third countries are subject to only a fraction of the energy costs EU steel producers have to bear. The cheaper products from these countries have been flooding the European market, causing threat to domestic production, he added.

The announced measures are unlikely to stop the current trend of production curtailments and temporary lay-offs. These could become permanent and jeopardise the resilience of its domestic steel sector, without swift actions.

EUROFER noted that the steel sector requires immediate, more ambitious and more industry-targeted measures. Furthermore, it offered its willingness to hold discussions with EU policymakers towards finding a sustainable solution to save the industry.

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