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Economic and steel market outlook 2019-2020, second quarter
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Final figures for 2018 show that the EU28 steel market grew by 3.3%. The preliminary safeguard measures could not prevent third country imports from rising by 12.6% and, as a consequence, local steel producers being flattened by deflected and cut-price steel products from outside the EU.
Meanwhile, the relaxation of the final safeguard measures – with an enlargement of 5% in February this year with another upwards revision of 5% scheduled for July – is completely out of step with the anticipated decline of the EU steel market in 2019. As such, the 10% increase in import quota allowed in the final safeguard measures risks squeezing the EU steel sector, as it will be exposed to rising import pressure in a depressed market.
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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
