EUROFER and industriaALL call for a steel summit

The European Steel Association (EUROFER) and the industriAll trade union are calling on the European Commission to hold a European Steel Summit early next year. This is stated in a joint letter from the organizations to European Commission President Ursula von der Leyen and Executive Vice President for Prosperity and Industrial Strategy Stefan Sejourne.

The urgent meeting is proposed to discuss a number of urgent issues and an action plan for the steel industry.

The EU’s steel sector, the letter says, has already suffered from the ongoing energy and raw materials crisis. In addition, about 100 million tons of Chinese steel at dumping prices have flooded major markets. However, the problem is not limited to China, as South Asia, the Middle East, India and Japan are reorienting towards the EU, which is driving down global steel prices and threatening the industry’s survival and investments in the green transition.

The EU’s current trade defense instruments (TDIs) remain important, but unfortunately insufficient to combat global overcapacity. In addition to strengthening the existing TDIs, the social partners in the sector are calling for short-term emergency measures and a new comprehensive trade initiative by the bloc as a matter of urgency.

“Import tariffication – in line with WTO rules – is necessary to overcome the dual crisis that combines market-distorting export surges with extremely low prices,” the letter says.

The proposed summit is to be held with the participation of social partners in the steel industry, EU member states and high-ranking officials of European institutions. As noted, it would be an instrumental event in the preparation of the announced Steel and Metals Action Plan, as well as other initiatives aimed at reducing energy prices, ensuring the efficiency of CBAM, and access to raw materials.

As GMK Center reported earlier, the EC will consider extending measures to limit steel imports as part of an overall plan to protect the sector during its decarbonization process, said Stefan Sejourne.