During the „European Steel Day” 2016, the issue of overcapacity in the steel industry was discussed

The European Steel Day 2016 took place on April 21, 2016 at the Concert Noble, in Brussels. The theme of this year’s event was: „Building a future as strong as steel”. This event coincided with EUROFER’s 40th anniversary. And it was an opportunity for the European steel industry to highlight its priority challenges.

About the European Steel Association (EUROFER)

EUROFER is headquartered in Brussels and was founded in 1976. Eurofer’s members are steel companies and national federations across the EU. The largest steel companies and national steel federations in Switzerland and Turkey are associate members.

EUROFER President Geert Van Poelvoorde said: „Our top priorities are: global excess capacity – especially from China; modernisation of Europe’s trade defence instruments (TDI); not granting market economy status to China until it meets the EU’s market economy criteria, an efficient and pro-competitive review of the Emissions Trading System (EU ETS), as well as the creation of a circular economy in Europe, which stands out for the 100% recyclable properties of steel„.

European Steel Day 2016 – Excess capacity

Overcapacity in the steel industry is one of the biggest challenges of our time,” said Mr Van Poelvoorde. „The global excess capacity is currently in the order of 700 million tons. About 400 million of them come from China. The country’s leaders have to face the fact that their excess capacity is damaging the prospects of the global industry and triggering the development of anti-dumping measures around the world. ”

About the European steel industry

The European steel industry is a world leader in innovation and sustainability. This industry has a turnover of around €170 billion and directly employs 320,000 highly skilled people, who produce an average of 170 million tonnes of steel per year. More than 500 steel production sites in more than 24 EU Member States provide direct and indirect jobs for millions of European citizens. Steel is the backbone for development, growth and employment in Europe.

Article source: http://www.eurofer.org/News%26Media/Press%20releases/Industry%20issue%20global%20overcapacity.fhtml