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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, 11 September 2025 – The lack of a solution for steel in the EU-U.S. trade negotiations, the ongoing unpredictability of the global geoeconomic situation, and persistently weak demand against an ever-growing global steel overcapacity are squeezing the European steel market. In 2025, the outlook points to stagnation, with potential recovery only in 2026 — conditional on improvements in the global economy and an easing of trade tensions. According to EUROFER’s latest Economic and Steel Market Outlook, another recession both in apparent steel consumption (-0.2%, revised upwards from -0.9%) and in steel-using sectors (-0.7%, revised downwards from -0.5%) is confirmed for 2025. Growth prospects are now delayed at least to 2026, with projections of a rebound for both apparent steel consumption (+3.1%) and steel-using sectors (+1.8%). However, steel imports continue to hold historically high market shares (25%) in 2025.
Third quarter 2025 report. Data up to, and including, first quarter 2025
Brussels, 10 September 2025 – Reacting to today’s State of the Union Address delivered by Commission President Ursula von der Leyen, Axel Eggert, Director General of the European Steel Association (EUROFER) said:
The European Steel Association (EUROFER)
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