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Towards an EU Product Policy Framework contributing to the circular economy
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The European steel industry welcomes the development of a coherent product policy framework that supports a circular economy and sustainability, giving full recognition to materials fit for circularity and supporting sustainable outcomes. We are at a critical stage in which EU product policy can be shaped to fully support the development of a more Circular Economy. It is therefore essential to have the right founding principles from the very beginning.
The use of a Life Cycle Assessment (LCA) methodology, when thoroughly peer-reviewed, should be widely supported as a means of quantifying the environmental impacts of products. For instance, a consistent LCA methodology is needed for preparing background studies, which are used to inform policy, such as in Ecodesign and Eco-label. As a voluntary assessment tool, the EC shall however, ensure a level playing field for environmental claims communicated by harmonising methodology.
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Brussels, 25 July 2024 – Major indicators in the European steel market show a steeper-than-expected downward trend, further impacting the outlook for this year and the next. Poor demand conditions, driven by ongoing factors such as high energy prices, persistent inflation, economic uncertainty and geopolitical tensions, are exacerbated by a manufacturing crisis affecting the largest steel-using sectors, including construction and automotive. According to EUROFER’s latest Economic and Steel Market Outlook, apparent steel consumption is further deteriorating. After a slump (-3.1%) in the first quarter of 2024, its rebound for the full year has been revised downwards (to +1.4% from +3.2%), as well as for 2025 (+4.1% from +5.6%). Similarly, output in steel-using sectors, after a decline in the first quarter (-1.9%), is projected to experience a deeper-than-expected recession (-1.6% from -1%). A recovery is anticipated only in 2025 (+2.3%). Steel imports continue to show historically high shares (27%).
Third quarter 2024 report. Data up to, and including, first quarter 2024
Picture Copyright: European Union, 2024 Source: EC - Audiovisual Service
Brussels, 18 July 2024 – The re-election of Ursula von der Leyen as President of the European Commission paves the way for the continuation of the ambitious initiatives started in her first term. For a stronger and prosperous Europe, defining a pragmatic set of measures within the first 100 days of the new Commission mandate is the right step forward to ensure the success of the EU’s industry transition, if properly implemented. The European Steel Association urges that the Clean Industrial Deal be complemented as a priority by a European Steel Pact, as proposed by the German delegation to the European People’s Party (EPP).