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.
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.