The crisis in the steel industry and the costs of innovation are the key themes at the European Steel Day 2019

The European Steel Association (EUROFER) hosted on June 26, 2019 the annual conference „European Steel Day” 2019: „Transition to the future of the EU industry to highlight the challenges currently facing the steel sector. These challenges include the very difficult situation of the industry, the protectionist measures of the EU and the need to support the innovation of the sector.

Speaking at the event, Geert Van Poelvoorde, president of EUROFER, said: „Today, the steel industry in Europe is in a critical situation, facing a series of roads that it could go down. At this moment, it is not clear in which direction we will go. Because we are facing a complexity of geopolitical, economic and environmental challenges”.

Meeting between the representatives of the steel sector

The representatives of the steel industry gathered at this event. Policy makers and stakeholders to discuss the key issues facing the European steel sector. At the top of this year’s agenda is the problem of the slowdown in demand for steel in 2019, the increase in imports and the need for the reduction of carbon emissions to be recognized by the EU as a global challenge, and not as a burden for European steel producers.

„These challenges have the potential to eliminate the entire steel industry in Europe. On the other hand, these challenges offer us a great opportunity. If we can embrace change and use it to accelerate innovation,” added Mr. Van Poelvoorde.

„In 2018, there was a record 12% increase in European imports of finished steel products, on a market that only grew by 3.3%,” said Mr. Van Poelvoorde. „We are grateful that the problem was recognized by the European Commission and measures were taken. However, the bailouts have failed in their objective for much of our industry.”

Unfair imports risk the survival of local producers. A dynamic sector coming out of a year of growth on the domestic market is forced to reduce jobs and production. 330,000 people are directly employed by the steel industry in Europe.

„For steel producers, there are several possible ways to reduce carbon emissions. And the different ways of achieving this are being tested by a number of companies in the field. However, the financing of these projects must come from several different sources. In order to reduce these emissions, the European steel sector needs massive investments. Also, cooperation with other interested parties”.

Article source: http://www.eurofer.org/News%26Events/Press%20releases/PRESS%20RELEASE%20Crisis%20in%20steel%20industry,%20.fhtml