Press release: Persisting downside factors deepen downturn in 2023 and curb steel demand rebound in 2024 - 08 February 2024

Brussels, 08 February 2024 – Lingering adverse conditions are set to exacerbate the recession in 2023 while slowing down the anticipated steel market recovery in 2024. Ongoing conflicts, prolonged uncertainty in energy prices and monetary tightening due to persistent inflation, combined with a bleak economic outlook, have further impacted apparent steel consumption (-6.3%) over the past year. This unpredictability is expected to constrain its rebound (+5.6%, previously projected at +7.6%) in the current year, against the backdrop of subdued industrial output (+0.2%) in steel-using sectors. Despite dwindling demand, imports steadfastly uphold their market share (27%), which exceeds historical levels.

Economic and market outlook: Economic and steel market outlook 2024-2025, first quarter - 08 February 2024

First quarter 2024 report. Data up to, and including, third quarter 2023

Press release: New EU steel safeguard investigation is welcome step to continue addressing global overcapacity, says EUROFER - 09 February 2024

Brussels, 09 February 2024 – The initiation of a new steel safeguard investigation announced today by the European Commission is a pivotal step that could ensure the continuation of current measures beyond June 2024. This welcome move comes in response to worsening challenges in the global steel market, where carbon-intensive steel imports originating from excess capacity are inundating the EU market, posing a risk to the sustainability of the European steel industry, says the European Steel Association.

Press statement: Antwerp Declaration for a European Industrial Deal - Industry leaders call for 10 urgent actions to restore competitiveness and keep good jobs in Europe - 20 February 2024

Antwerp, 20 February 2024 – Today 73 industry leaders spanning almost 20 industrial sectors presented ‘The Antwerp Declaration for a European Industrial Deal’ to Belgian Prime Minister, Alexander De Croo and Commission President, Ursula von der Leyen. The declaration underlines the commitment of industry to Europe and its transformation and outlines urgent industry needs to make Europe competitive, resilient, and sustainable in the face of dire economic conditions.

European Industry Summit: The Antwerp Declaration for a European Industrial Deal - 20 February 2024

European Industry Summit: a business case for Europe, under the auspices of the Belgian Presidency of the Council of the EU - There is an urgent need for clarity, predictability, and confidence in Europe and its industrial policy

Events: The Future of EU Industry: Value chain Resilience or Dependence - 22 February 2024

The European Steel Association hosts or participates in a range of events or conferences

Position paper: The European steel industry recommendations on Industrial Demand Side Response - 04 March 2024

Uses, limits, and realistic potentials of demand-side response from the European steel industry along with a broad set of framework recommendations for an EU policy

Press release: Clean Transition Dialogue on Steel: urgent action needed to preserve EU steel production and millions of quality jobs while fostering decarbonisation, calls for industry - 22 March 2024

Brussels, 22 March 2024 – The future of a strong and resilient EU can only be forged with steel made in Europe. Europe-made low-carbon steel has a strategic role as it enables a net-zero economy, but today it faces strong headwinds from high energy prices, unfair competition, global overcapacity and growing unilateral carbon costs. The year 2023 has recorded the lowest European crude steel production levels ever, with a number of idled plants and dire impact on workers. Ensuring the enabling conditions for the short-term viability and the decarbonisation of the steel sector urgently needs to be at the top of the EU agenda. This is the message delivered by the European Steel Association together with a number of high-level representatives of the sector on the occasion of the Clean Transition Dialogue on Steel in the presence of the Executive Vice Presidents of the European Commission, Maroš Šefčovič and Margrethe Vestager.

#STRONGERWITHEUSTEEL - 12 April 2024

Press release: Steel market outlook deteriorates further in aftermath of worse-than-expected recession - 29 April 2024

The outlook for the European steel market in 2024 continues to lose momentum amidst persisting challenging conditions. Downside factors such as worsening geopolitical tensions, coupled with growing economic uncertainty, energy prices, inflation, interest rates have further impacted demand prospects. According to EUROFER’s latest Economic and Steel Market Outlook, these challenges have exacerbated the negative effects on apparent steel consumption, resulting in a more severe downturn in 2023 than previously projected (-9%, instead of -6.3%) and weaker growth in 2024 (+3.2%, instead of +5.6%). Output in steel-using sectors, despite showing more resilience than expected in the past year (+1.1%), is now set to decline (-1%). Imports are once again on the rise (+11% in the last quarter of 2023), capturing a staggering 27% market share throughout 2023.