EU steel industry is fighting for its future

About 60 CEOs of European companies in the metals industry sent letters to heads of state and government ahead of the European Council scheduled for 20 and 21 October. They will have to make a number of important decisions for the European iron and steel sector.

The representatives of metallurgy made a request on issues that could affect the future fate of the entire industry. First, regarding the granting of the status of a country with a market economy to China.

Another issue is the right to market protection: more efficient and faster mechanisms to restore fair trade practices. “We are convinced that the methodology of anti-dumping proceedings in Europe should be as close as possible to the methodology used by the United States,” the letter said. "In addition, dumping is sometimes even 10 times lower than that used in the United States."

According to the signed letter, the European Emissions Trading Scheme (ETS) is the most ambitious and deals with CO2 emissions trading in the world. “The steel industry in Europe is aware of the need to reduce CO2 emissions and is working intensively on low-carbon technologies.”

The current proposed system for the EU after 2020 is for European steel companies whose business is global, which would not have to be held responsible outside of Europe. “This poses a threat to jobs and investment in the European iron and steel sector,” the letter said. "The new emissions trading system in Europe should entail a change in the way steel is produced, not the place of production."