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EUROFER request for a continuation of the EU steel safeguard regime after three years of application
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If the EU Steel Safeguard measures end in June 2021, the EU steel industry will again be fully exposed to high volumes of cheap deflected steel imports – particularly for as long as the United States Section 232 measures continue.
In short, the US Section 232 measure is a trigger, but the broader problem is persistent global overcapacity and proliferation of steel trade actions worldwide and has worsened because of the Covid-19 crisis.
The EU steel market, with its zero import tariff, is by far the biggest import market in the world (40 million tonnes of imports in 2019 followed by the U.S. with 27 million tonnes).
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Brussels, 13 February 2025 – Following the high-level conference “A Carbon Border Adjustment Mechanism for Climate - Addressing carbon leakage to strengthen global climate action”, organised in Paris by the European Commission and the French Ministries of Finance, Economics and Climate Transition, EUROFER emphasises that simplification must go hand in hand with ensuring the instrument’s effectiveness. This means addressing key issues such as resource shuffling, exports, and the inclusions of products further down the value chain.
Brussels, 11 February 2025
Brussels, 06 February 2025 – The economic and geopolitical conditions that have affected the European steel market over the past two years show no signs of improvement and have further deepened their negative impact on the sector in 2024. Growing uncertainty continues to weigh also on 2025 and 2026, with the outlook hinging on unpredictable developments especially as regards international trade. According to EUROFER’s latest Economic and Steel Market Outlook, the recession in apparent steel consumption in 2024 will be steeper than previously projected (-2.3%, down from -1.8%) and the expected recovery in 2025 has now been downgraded (+2.2%, down from +3.8%). Similarly, steel-using sectors’ recession has been revised downwards for 2024 (-3.3% from -2.7%), while growth projections for 2025 have also been lowered (+0,9% from +1.6%). Some acceleration is not expected until 2026 (+2.1%). Steel imports remain at historically high levels (28%) also in the third quarter of 2024.
The European Steel Association (EUROFER)
172 Avenue de Cortenbergh
1000 Brussels
Belgium
Email: mail@eurofer.eu
Phone: +32 (0) 2 738 79 20
