According to EUROFER, MEPs called on the European Commission to take action against the pressure from Chinese and other countries' steel exports to the European market. It was emphasized that urgent measures should be taken for the sector, which faces critical problems such as global overcapacity, high energy prices, green transformation and unfair competition. It was requested to review the steel protection mechanism and develop a long-term solution suitable for market conditions after 2026.
Members of the European Parliament stated that the EU's Carbon Border Adjustment Mechanism (CBAM) should eliminate legal gaps and clarify its implementation, while emphasizing that the mechanism should be extended to steel-intensive end products. Structural reforms in the EU electricity market and support for the supply of affordable hydrogen to industry were also requested. In line with Europe's circular economy objectives, steel scrap should be kept within the EU.
Commission members emphasized that “We will not let the steel industry die in Europe” and that it is time for concrete action, not talk. "The steel sector needs a strong and effective ‘Steel Action Plan’. The European steel industry is critical for the continent's security and economic prosperity."
Comments
No comment yet.