EUROFER | Engage

The newsletter of the European Steel Association

EUROFER | Engage

The newsletter of the European Steel Assocation (EUROFER)

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Note from the Director General

Fit for 55 package signals step-change in EU climate policy

The EU Climate Law - recently endorsed by the EU institutions – sets the ambition to reduce emissions by 55% by 2030 compared to 1990 levels and to reach climate neutrality by 2050. This target makes the EU by far the most ambitious major region worldwide in the field of climate policy.

This specific target forms part of the wider European Green Deal, first presented by the Commission in December 2019. This set out a detailed vision to make Europe the first climate-neutral continent by 2050, safeguard biodiversity, establish a circular economy and eliminate pollution, while boosting the competitiveness of European industry and ensuring a just transition for the regions and workers affected.

That political ambition is now to be made whole in a raft of legislation set to formally emerge on 14 July 2021 in the form of the Fit for 55 package, including: the revision of the EU Emissions Trading System (ETS), a Carbon Border Adjustment Mechanism (CBAM), revision of the Energy Tax Directive (ETD), amendments to the Renewable Energy and Energy Efficiency Directives, as well as others on the reduction of methane emissions from the power sector, greenhouse emissions from land use and rules on passenger cars and alternative fuels.

The Fit for 55 package is one of the most significant - and largest - groups of measures the EU has ever released in one go.

The European steel industry supports the objectives of the European Green Deal – and thus understands and supports the rationale behind the Great Leap of the Fit for 55 package – as long as it proves to be a strategy for growth: with effective carbon leakage protection, support for low carbon technologies (through de-risking instruments like carbon contracts for difference), demand-side measures to create markets for green steel, and affordable, low-carbon energy,.

Our sector already had the ambition to reduce CO2 emissions by 30% by 2030 compared to 2018 levels (which is the same as -55% compared to 1990). This reduction can only be achieved if the large number of advanced decarbonisation projects led by European steel companies – over 100 across Europe – are covered by a robust and supportive EU framework.

With the new, more ambitious EU climate target and increasing carbon price, it is ever more essential to prevent carbon leakage effectively.

EUROFER will be working hard to ensure that the best possible framework is created out of Fit for 55, ensuring that European steel can continue to be competitive during its transition to the green and sustainable future.


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Latest updates from the European Steel Association

Position paper: Implementation of RFNBOs targets in industry

EUROFER policy recommendations to national governments
24 May 2024
➢ The use of hydrogen in the steel industry yields the highest CO2 abatement potential per tonne consumed with lower and upper ranges comprised between 16kgCO2/kgH2 and 23kgCO2/KgH2....

Press release: New EU anti-dumping investigation on Chinese tinplate is crucial step to restore level playing field for European steelmakers, welcomes EUROFER

Brussels, 16 May 2024 – The initiation of a new anti-dumping investigation on imports of tinplated steel products from China announced today by the European Commission is an important step towards restoring a level playing field for the EU producers, says the European Steel Association welcoming the opening of the procedure.
16 May 2024
“Chinese mills have been flooding the EU market for at least the past four years with their overcapacities of tinplate at dumped prices, putting immense pressure on EU producers that were forced to reduce their prices regardless of the evolution of costs”, said Axel Eggert, Director General of the European Steel Association (EUROFER)....

Press release: EUROFER Welcomes the Extension of Anti-Dumping and Countervailing Duties to Imports of Stainless Steel Cold-Rolled Flat Products from Taiwan, Turkey, and Vietnam and the introduction of import requirements connected to strict monitoring of imports

Brussels, 07 May 2024 – The European Commission has today published two Regulations extending the anti-dumping and countervailing measures in force on imports of stainless steel cold-rolled flat products (SSCR) originating in Indonesia to imports of SSCR from Taiwan, Turkey and Vietnam. EUROFER welcomes the extension of the duties and the introduction of import requirements connected to strict monitoring of imports.
07 May 2024
The European Commission Implementing Regulations extend the existing anti-dumping duty rate of 19.3% to imports of SSCR from Taiwan and Vietnam and extend the existing countervailing duty rate of 20.5% to imports of SSCR from Taiwan, Turkey and Vietnam....

Economic and market outlook: Economic and steel market outlook 2024-2025, second quarter

Second quarter 2024 report. Data up to, and including, fourth quarter 2023
29 April 2024
The negative trend in the steel market observed in the first half of 2023 has shown persistence while getting more acute over the last two quarters....

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

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.
29 April 2024
“These figures underscore the urgent need for action if we want to ensure a resilient future for the European steel industry and the interconnected clean tech manufacturing value chains, from wind to electric vehicles....

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