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Press release: Von der Leyen’s re-election: time for pragmatic implementation of Clean Industrial Deal with steel at its core for a stronger Europe, says EUROFER - 18 July 2024

Picture Copyright: European Union, 2024 Source: EC - Audiovisual Service

Brussels, 18 July 2024 – The re-election of Ursula von der Leyen as President of the European Commission paves the way for the continuation of the ambitious initiatives started in her first term. For a stronger and prosperous Europe, defining a pragmatic set of measures within the first 100 days of the new Commission mandate is the right step forward to ensure the success of the EU’s industry transition, if properly implemented. The European Steel Association urges that the Clean Industrial Deal be complemented as a priority by a European Steel Pact, as proposed by the German delegation to the European People’s Party (EPP).

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Economic and market outlook: Economic and steel market outlook 2024-2025, third quarter - 25 July 2024

Third quarter 2024 report. Data up to, and including, first quarter 2024

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Press release: Negative trends in steel market continue to deepen, weakening recovery in 2024 and 2025 - 25 July 2024

Brussels, 25 July 2024 – Major indicators in the European steel market show a steeper-than-expected downward trend, further impacting the outlook for this year and the next. Poor demand conditions, driven by ongoing factors such as high energy prices, persistent inflation, economic uncertainty and geopolitical tensions, are exacerbated by a manufacturing crisis affecting the largest steel-using sectors, including construction and automotive. According to EUROFER’s latest Economic and Steel Market Outlook, apparent steel consumption is further deteriorating. After a slump (-3.1%) in the first quarter of 2024, its rebound for the full year has been revised downwards (to +1.4% from +3.2%), as well as for 2025 (+4.1% from +5.6%). Similarly, output in steel-using sectors, after a decline in the first quarter (-1.9%), is projected to experience a deeper-than-expected recession (-1.6% from -1%). A recovery is anticipated only in 2025 (+2.3%). Steel imports continue to show historically high shares (27%).

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Press release: European steel industry and manufacturing at existential risk: radical Clean Industrial Deal last train for stronger and greener EU, warns EUROFER - 05 September 2024

Brussels, 05 September 2024 – The latest developments in the steel sector and across critical value chains are worrying signs of a steady deterioration, endangering the survival and the transition of steelmakers and their key manufacturing customers in Europe, such as automotive. A Clean Industrial Deal including swift and radical measures in EU industrial, energy and trade policies, is the last chance to ensure Europe’s prosperity and shield European industry from cheap imports driven by third countries’ unfair trade practices, overcapacity and lower climate ambition, urges the European Steel Association.

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Press release: Concrete implementation of Draghi’s competitiveness cure urgently needed to ensure business case for industry in Europe, says EUROFER - 10 September 2024

Brussels, 10 September 2024 – The Draghi Report thoroughly identifies the bottlenecks to both the EU industry's decarbonisation and competitiveness. The proposed recommendations for energy-intensive industries, including on energy, trade, carbon leakage, financing and lead markets, should be integrated into the upcoming Clean Industrial Deal and implemented with concrete measures as a matter of urgency. Alignment across different policies is crucial, and should be accompanied by sector-specific initiatives to enable the transition of each industry including steel, asks the European Steel Association.

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Press release: GFSEC countries must curb global steel excess capacity through immediate trade actions, urges EUROFER - 08 October 2024

Brussels, 08 October 2024 – The latest data disclosed by the Global Forum on Steel Excess Capacity (GFSEC), revealing a further increase in global overcapacity, require immediate, comprehensive trade actions by GFSEC like-minded countries. The impact of this destructive dynamic, distorting the global steel market and threatening thousands of jobs across Europe alone, needs to be tackled as a matter of urgency, says the European Steel Association.

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Open Letter: Call for urgent action to save the European steel industry and the livelihood of our workers - 16 October 2024

Open Letter to the Heads of State and Government of the Member States of the European Union

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1728556569461 20241009 EP 173150B FM2 MCU 018B

Press release: Steel crisis in focus at EP Plenary debate: urgent need for robust EU Steel Action Plan, says EUROFER - 22 October 2024

Brussels, 22 October 2024 – The steel crisis will be at the centre of the European Parliament (EP) Plenary sitting tomorrow morning in Strasbourg. Members of the European Parliament (MEPs) will debate how to tackle the dire situation facing the European steel industry and its workers, caused by global steel overcapacity, unfair trade, low demand in the manufacturing industry and high energy prices in the EU. This public discussion raises high expectations for a fit-for-purpose EU Steel Action Plan to be implemented swiftly to save the sector as the basis for EU manufacturing, underscores the European Steel Association.

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Economic and market outlook: Economic and steel market outlook 2024-2025, fourth quarter - 29 October 2024

Fourth quarter 2024 report. Data up to, and including, second quarter 2024

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Press release: Steel market outlook continues to worsen as demand and consumption decline amid high import shares - 29 October 2024

Brussels, 29 October 2024 – The European steel market faces an increasingly challenging outlook, driven by a combination of low steel demand, a downturn in steel-using sectors, and persistently high import shares. These factors, combined with a weak overall economic forecast, rising geopolitical tensions, and higher energy costs for the EU compared to other major economic regions, are further deepening the downward trend observed in recent quarters. According to EUROFER’s latest Economic and Steel Market Outlook, apparent steel consumption will not recover in 2024 as previously projected (+1.4%) but is instead expected to experience another recession (-1.8%), although milder than in 2023 (-6%). Similarly, the outlook for steel-using sectors’ output has worsened for 2024 (-2.7%, down from -1.6%). Recovery projections for 2025 are also more modest for both apparent consumption (+3.8%) and steel-using sectors’ output (+1.6%). Steel imports share rose to 28% in the second quarter of 2024.

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