European steelmakers have backed the adoption of new EU protective measures on steel

European steelmakers have welcomed the European Parliament’s approval of new EU steel safeguard measures. This was stated in a press release from the European Steel Association (EUROFER).

They called it an important step toward overcoming the mounting pressure the industry faces due to record import volumes, global overcapacity, and rising international protectionism.

“In times of growing geopolitical uncertainty and market distortions, this is an important signal that the EU is ready to act to protect its industrial base, security, and autonomy. There should now be no delay in ensuring these measures enter into force by July 1, 2026, when the current ones expire,” noted Axel Eggert, CEO of EUROFER.

EUROFER emphasized that the EU will remain one of the most open steel markets in the world, with approximately 18 million tons of imported steel products continuing to enter duty-free each year.

At the same time, the industry association stressed that protecting steel production in Europe and meeting European demand must go hand in hand. Therefore, EUROFER called for extending the same strategic approach to steel-containing products manufactured in subsequent stages, with the aim of strengthening the broader European industrial value chain.

In addition, further action is needed to support the sector, including combating high energy prices, an effective cross-border carbon adjustment mechanism (CBAM), and addressing the issue of global overcapacity.

As a reminder, the European Parliament has approved new measures to protect the EU steel market. It is expected that Ukraine’s status as a candidate country facing specific security challenges will be taken into account during the allocation of quotas.