This infographic shows why the EU needs the EU steel safeguard - and why it needs to work. Steel is an intensively traded product in a market suffering from significant global overcapacity. This is affecting the financial and economic sustainability of the steel sector.
The safeguards are a justified trade policy response to import surges caused by external factors. The quota itself is based on the average volume data from 2015-2017. The quota increased by 5% in February 2019 and is schedule to increase by another 5% in July 2019. This expansion of the quota size is independent of the growth of the overall EU steel market.
Download this publication or visit associated links
Brussels, 06 February 2025 – The economic and geopolitical conditions that have affected the European steel market over the past two years show no signs of improvement and have further deepened their negative impact on the sector in 2024. Growing uncertainty continues to weigh also on 2025 and 2026, with the outlook hinging on unpredictable developments especially as regards international trade. According to EUROFER’s latest Economic and Steel Market Outlook, the recession in apparent steel consumption in 2024 will be steeper than previously projected (-2.3%, down from -1.8%) and the expected recovery in 2025 has now been downgraded (+2.2%, down from +3.8%). Similarly, steel-using sectors’ recession has been revised downwards for 2024 (-3.3% from -2.7%), while growth projections for 2025 have also been lowered (+0,9% from +1.6%). Some acceleration is not expected until 2026 (+2.1%). Steel imports remain at historically high levels (28%) also in the third quarter of 2024.
First quarter 2025 report. Data up to, and including, third quarter 2024
Brussels, 04 February 2025 – The European Steel Association (EUROFER) supports the demonstration of thousands of industry workers taking place tomorrow, 5 February, in Brussels, organised by industriAll Europe. Steel workers from across the EU will join workers from other manufacturing industries to call on the European Commission to save our industry and preserve employment by investing in good industrial jobs and the transition, while combating global overcapacity and unfair trade.