On 5 February the European Parliament’s environment committee (ENVI) voted on the Carbon Border Adjustment Mechanism (CBAM) with 58 votes for, 8 against and 10 abstentions.
First quarter 2021 report. Data up to, and including, third quarter 2020.
Brussels, 10 February 2021 – The European Steel Association (EUROFER)’s newly released Economic and Market Outlook report reflects on the effects the COVID-19 outbreak has had on steel output and use. The pandemic has slashed EU steel consumption forecasts and punctured the overall economic outlook.
The European industry keeps facing high energy prices that affects its cost-competitiveness towards main competitors in third countries. The issue of high energy costs, in particular for energy-intensive industries exposed to global competition such as steel, must be addressed through a coherent EU energy and climate policy.
The deployment of large volumes of renewables represents a key challenge for the management of the grid and needs to be balanced also with the objective of providing competitive and secure energy. In this sense, it is important to accelerate the integration of renewables in the market in order to foster cost-effective solutions.
The draft Delegated Act still needs very important improvements to be fit for purpose.
EUROFER contribution to the EU COM questions to the Platform on Sustainable Finance on transition financing (questions 1, 2, 6)
Reconciling climate ambition and industrial competitiveness in the state aid framework.
How to facilitate a viable business model to start commercial scale production of low-carbon steel before 2030.
Missed it? Watch the joint EUROFER and WV Stahl webinar of 24 February here.
The European Steel Association (EUROFER)
172 Avenue de Cortenbergh
1000 Brussels
Belgium
Email: mail@eurofer.eu
Phone: +32 (0) 2 738 79 20
