News » The resurgence of the pandemic in Europe and across the world is putting further pressure on EU steel.
The resurgence of the pandemic in Europe and across the world is putting further pressure on EU steel.
Recent updates
Apparent steel consumption in the EU fell (-25.5%) year-on-year in the second quarter of 2020, after a drop (-12%) in the first quarter. This was the most severe drop in EU steel consumption ever recorded.
The exceptionally negative trend in steel demand seen in the second quarter of 2020 is – as widely expected – the result of the economic and industrial lockdown in response to the COVID-19 pandemic.
The state of EU and global steel means there is an increased urgency to deal with excess steel capacity worldwide, as this overcapacity will undermine the recovery. In October, national and regional associations and members of the Global Forum on Steel Excess Capacity called on G20 leaders to keep working on a multilateral solution to the problem. EUROFER welcomes continued EU leadership on this issue. Additionally, the EU steel safeguard must be adapted and extended to avoid a resurgence in steel demand being matched by an unhindered flood of dumped imports.
The coming months may prove to be doubly challenging: the resurgence of COVID-19 cases is prompting the reimposition of control measures. Ensuring the effectiveness of public health measures whilst minimising the impact on the economy is a fine balancing act but it is essential because further setbacks will have long-run implications for all sectors and their ambitions for the coming years. EU leaders will have to act decisively to ensure that Europe gets back on track once the pandemic has faded.
In the meantime, stay safe.
Brussels, 11 July 2025 – The delay and ongoing uncertainty about a deal on tariffs between the EU and the U.S. further worsens the crisis for the European steel industry. U.S. steel tariffs at 50% are adding fuel to an already explosive situation, putting the sector at risk of losing all its exports to the U.S. and facing a surge of deflected trade flows redirected from the U.S. to the EU market. The lack of bold and timely implementation of the Steel and Metals Action Plan is further accelerating the sector’s deterioration, says the European Steel Association.
Brussels, 02 July 2025 – The 90% climate target proposed today by the European Commission demands an unprecedented transformation of EU society and industry in just 15 years. The European steel industry is already doing its part, but a viable business case for the transition is still lacking. To enable it, the EU needs to implement the Steel and Metals Action Plan much more decisively, delivering a highly effective trade protection against global overcapacity, access to internationally competitive low carbon energy and scrap, and a watertight CBAM, says the European Steel Association.
How global overcapacity is destroying European industries
The European Steel Association (EUROFER)
172 Avenue de Cortenbergh
1000 Brussels
Belgium
Email: mail@eurofer.eu
Phone: +32 (0) 2 738 79 20
