Steel is the heart of the EU steel industry

In the EU, steel is the heart of the steel industry, which is why every year, the parties involved in the European steel industry come together in Brussels for the European Steel Day. This year, the meeting takes place on June 7, with the motto „Steel, sustainability and low-carbon innovation”.

The steel industry is fully committed to the European values of circular economy, sustainability, innovation and free and fair trade, writes Andrés Barceló.

The steel industry, represented in the EU by Eurofer. Being on the path to recovery from the financial and economic crisis that broke out suddenly almost 10 years ago. The numbers speak for themselves: a 28% drop in steel demand between 2007 and 2014 forced companies to lay off nearly 20% of their workforce.

The steelmakers struggled hard to survive and continued to provide its customers with products and services. Even if the market almost collapsed. And new challenges and threats – such as regulatory burdens, overcapacity and the spread of protectionism in many third countries – have emerged in the business environment.

Today, the steel industry is present throughout Europe, with more than 500 production plants. They produce 160 million tons of steel and provide more than 320,000 direct jobs. It also generates millions of indirect and induced jobs. This is what an Oxford Economics study recently showed.

Steel is at the heart of the circular economy. As with other metal industries, our product is recyclable without interruption, with a highly efficient market for secondary scrap metal raw material, a market that does not require public intervention or financial support.

The collection and recycling of ferrous scrap makes the steel industry the largest recycling industry in Europe. They outperform other industrial recycling sectors.

Steel is the heart of EU industry – the European steel industry

This industry is now facing unexpected threats due to the global overcapacity of the steel industry and recent measures taken by the US government. Which could jeopardize the cautious recovery in the EU steel market.

The European Commission has launched a safeguard investigation ex officio to combat the risk of excessive imports into the EU market. Which is, by far, the most open and free on the entire globe.

„As with all businesses in Europe, the steel industry has many challenges that need to be addressed. But this year we want to proudly show European society, represented by the institutions and stakeholders. Our commitment to the sustainability of industry and the European economy and jobs. As well as the strong focus on innovation to move to a low level – carbon savings.” Andrés Barceló

Article source: https://www.theparliamentmagazine.eu/articles/opinion/steel-heart-eu-industry