The European Commission has proposed an action plan for the European steel industry to help the sector confront its challenges and put it on the path to a more competitive future. A High-Level Group will be formally created to oversee the implementation of the plan over the next twelve months. It will focus on fostering innovation, creating growth and jobs and cutting costs for the industry. Read more...
The European steel industry is suffering from the simultaneous effect of low demand and worldwide over-capacity, along with increasing energy prices. However, demand for steel is still rising, with the Organisation for Economic Cooperation and Development reporting that global demand will increase by 2.3 billion tonnes by 2025, predominantly from the construction, transport and mechanical engineering sectors.
Europe remains the second largest producer of steel in the world. The Commission has therefore put forward the proposals to ensure that it is fit to take advantage of what is still a highly competitive market. The new political strategy will include assessing the regulatory framework to ease the burden on the industry, addressing skills needs and easing restructuring, improving access to foreign markets and ensuring affordable energy prices.
The plan also includes several environmental proposals. In particular, Europe’s 2030 climate policy will play a key part in ensuring the competitiveness of the industry, as will the negotiations for a binding international agreement on climate change. The level of innovation within the industry will also be addressed, promoting environmentally-friendly technologies through the development of new types of steel and the simulation of innovative research and development.
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