According to German media reports, German Vice Chancellor and Finance Minister Lars Klingbeil has called for a complete ban on steel imports from Russia ahead of the upcoming Steel Summit to be held at the Federal Chancellery in Berlin on Thursday, November 6.
Klingbeil criticized the continued exemption from EU sanctions of steel slabs produced in Russia and processed in the EU. He stressed the need to increase domestic production of "climate-friendly, high-quality steel produced in Germany and Europe," as well as end dependence on foreign dumping and global overcapacity.
According to Klingbeil, one of the key issues discussed at the Steel Summit will be the introduction of a pricing mechanism for industrial electricity to reduce energy costs for steel producers.
Steel Summit will seek solutions for industry
Meanwhile, according to an official statement from the German federal government, the Steel Summit, hosted by German Chancellor Friedrich Merz, will address the current challenges facing the German steel industry.
The meeting will bring together senior Cabinet ministers and key industry stakeholders to discuss measures to enhance competitiveness, ensure industrial sustainability and preserve jobs. Press statements are planned based on the results of the discussions.
"Warning signal" for German steel
Representatives of the federal government, the Ministers of Economy, Finance, Labor and Social Affairs, as well as the environment will take part in the negotiations. According to media reports, the summit will also discuss rising energy prices, global steel overcapacity, and trade relations.
The German Steel Federation (WV Stahl) has repeatedly called on the government to take urgent measures to protect domestic producers amid weak demand in steel-using sectors and growing import competition.
Demand for steel in Germany remains at historically low levels, especially in the automotive, machine-building and machine-building industries, which are key consumers of steel. flat and long products. V. V. Stahl described the situation as a "warning signal" for politicians, highlighting global steel overcapacity distorting EU markets, a sharp
