Shaping the circular economy is an ongoing challenge. Achieving this objective is not possible without steel. The European Commission is expected to publish a package with proposals on the Circular Economy towards the end of 2015. This package will explain how the EU intends to deal with the need to transform Europe into a more competitive resource-efficient economy, addressing a range of issues, including reuse, recycling, and waste treatment.
Steel is a 100% recyclable, ‘permanent’ material, which loses none of its unique properties when properly processed. The European steel industry works hard to ensure that the steel it produces can be reused, recovered, and recycled. It also ensures that steel production’s by-products, such as slags and process, gases are put to the best possible uses.
The brochure provides recommendations to policy makers dealing with issues arising in the circular economy for the steel industry. It shows that steel can help mitigate CO2 emissions and help reduce product lifecycle emissions. Steel’s characteristic as a ‘permanent’ material means it can be easily reused and subsequently recycled in a constant loop.
To this end, the brochure proposes that the recycling definition in the EU’s waste legislation be adapted to properly meet the aspirations of the circular economy. Finally, it demonstrates the large degree to which steel production retains as much of the material created during steel production and is able to make use of its by-products.
As part of its commitment to underpinning the circular economy, the steel industry is constantly working on cleaner, resource-efficient solutions – as well as on an ever-expanding range of steel grades – ensuring that the average 170 million tonnes of steel it produces every year are ever more sustainable, useful and environmentally friendly.
First quarter 2023 report. Data up to, and including, third quarter 2022
Brussels, 02 February 2023 – All downside factors that have materialised in the first half of last year have persisted, continuing to impact the European steel market. Apparent steel consumption is forecast to see a deeper-than-expected drop of -4.6% for 2022 (previously set at -3.5%). The outlook for 2023 also remains negative (-1.6%), paving the way for the fourth steel demand recession in five years. A modest recovery will be in sight in 2024 (+1.6%), though subject to high uncertainty. Despite a more general resilience of the EU economy, in the third quarter of 2022 apparent steel consumption reached its lowest level after the pandemic.