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European Council Conclusions on the Recovery Plan and Multiannual Financial Framework for 2021-2027
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The European Steel Association welcomes the European Council conclusion of 17-21 July 20201 on a comprehensive package of €1824.3 billion which combines the multiannual financial framework (MFF) 2021-2027 and an extraordinary EU recovery effort under the Next Generation EU (NGEU) instrument, helping the EU to rebuild after the pandemic and support investment in the green and digital transitions.
We also welcome the legislative proposals submitted by the Commission on 16July 2020 to reform the Research Fund for Coal and Steel (RFCS)2345 in order to secure sufficient support for R&D in the steel industry. The Fund that has a size of €1.5 billion was created mainly from contributions of the EU steel and coal industries. The proposed reform should free around €350 million for the Clean Steel Partnership for the period 2021 – 2027 from the RFCS assets and a yearly R&D spending of at
least €40 million.
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Brussels, 27 November 2024 – The European steel industry is at a critical juncture, facing irreversible decline unless the EU and Member States take immediate action to secure its future and green transition. Despite repeated warnings from the sector, the EU leadership and governments have yet to implement decisive measures to preserve manufacturing and allow green investments across Europe. Recent massive production cuts and closure announcements by European steelmakers show that time has run out. A robust European Steel Action Plan under an EU Clean Industrial Deal cannot wait or manufacturing value chains across Europe will simply vanish, warns the European Steel Association.
Brussels, 12 November 2024 - Ahead of Commissioner-Designate Séjourné’s hearing in the European Parliament, European steel social partners, supported by cross-party MEPs, jointly call for an EU Steel Action Plan to restore steel’s competitiveness, and save its green transition as well as steelworkers’ jobs across Europe.
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.
The European Steel Association (EUROFER)
172 Avenue de Cortenbergh
1000 Brussels
Belgium
Email: mail@eurofer.eu
Phone: +32 (0) 2 738 79 20
