EU - Latest news GMK Center

Ukrainian suppliers are ready to replace the products of Russian producers on the EU market in case of sanctions on pig iron and steel from the Russian Federation

The largest source of emissions was the processing industry – 23.5% of the total volume

Compared to September 2022, industrial production in the Eurozone fell by 6.9%, in the EU – by 6.1%

In January-September 2023, EU increased the import of pig iron from the Russian Federation by 40% y/y

Eurozone economy expected to grow by 1.2% in 2024

The bloc wants certainty about US tariffs and tariff quotas on European steel and aluminum

European steelmakers are implementing more than 60 decarbonization projects

Taking into account European trade measures on imported products, local steel sales will increase

The restrictions will apply for the next 5 years

Industrialists are in favor of maintaining the existing target for the creation of CO2 storage facilities at the EU level

The parties failed to reach an agreement at the summit in October

Domestic steel industry is already part of the European industry