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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, 03 May 2023 – The year 2022 came to a close with a sharper-than-anticipated recession in apparent steel consumption (-7.2%) as steel demand shrank significantly, due to the energy crisis and the impact of the war in Ukraine. Although the worst seems to be over after the fourth quarter of 2022, apparent steel consumption is still projected to be negative (-1%) in 2023, before rebounding in 2024 (+5.4%). However, high uncertainty continues to cast a shadow on the outlook for 2023, which remains bleak. Although steel imports have decreased in tandem with demand, their market share is still historically high (23.4%).
Second quarter 2023 report. Data up to, and including, fourth quarter 2022
Joint industry statement