EUROFER

EUROFER expects this figure to decrease by 1.6% in 2023

In 2022, global steel production decreased by 4% due to geopolitical challenges, the war in Ukraine and the energy crisis

The supply of flat rolled products to the EU decreased by 9% y/y for the year, and long products – increased by 11% y/y

Shipments of flat rolled products from the EU decreased by 10% y/y, and of long products – by 22% y/y

Apparent steel consumption expected to fall 1% in 2023

Due to the war, Europe lost about 20 million tons of steel from Ukraine

According to the association's forecasts, in 2023 the production of pipes in the EU will decrease by 1.9% y/y

The association predicts that the negative trends of last year will continue to influence in 2023

The gap in the cost of steel production between the EU and the US may increase to 60%

A high rate of raw material exports risks jeopardizing both Europe's strategic autonomy and its climate goals

EUROFER Deputy Director General Climate and Energy about the deal on the Carbon Border Adjustment Mechanism and review the Emissions Trading System in EU

The EU agreed on the reform of the ETS and the gradual abolition of free quotas for carbon emissions