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10.06.2020 – 08:00

EUROFER - The European Steel Association

Upcoming EU decision negligently threatens the European steel industry and thus the Green Deal

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Brussels (ots)

This week, the European Commission and the EU member states decide on the future of the safeguard policy for the steel industry. This is about the ability to survive of the European steel industry as well as the green deals. There are concerns that there will be a wave of cheap imported steel after COVID-19. Therefore, the European steel industry, including companies and associations, approached the European Commission and national governments in an open letter. They are urgently asked to immediately decide on lowering the safeguard contingents and to immediately stop the transfer of unexploited contingents in subsequent periods. If they refrain from doing so, it would be a negligent handling of European interests.

Since the beginning of the Corona crisis in March 2020, the demand for steel within the EU has plummeted by about 50 percent. The European steel industry has reacted to this slump by shutting down its production. In contrast, large market competitors like China, India or Russia have continued their production at a high level, regardless of the also internationally precarious market situation. They have filled their warehouses with large quantities of cheap steel.

Cheap, because this steel is funded by the state and is being produced under ecological and social standards that are generally far below those of the EU. European steel, on the other hand, is the most sustainable steel in the world, produced under the best ecological and social conditions.

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Original content of: EUROFER - The European Steel Association, transmitted by news aktuell