European steel crisis: urgent measures are needed to save it from unfair imports and deindustrialization

The European steel sector is facing an unprecedented crisis, jeopardizing both the survival of steel companies and the transition to sustainable production. Axel Eggert, Director General of EUROFER, highlighted that deindustrialization in Europe is now evident, affecting not only steel but also critical sectors like automotive and wind energy. EUROFER is calling for an urgent "Clean Industrial Deal" with industrial, energy, and trade measures to stop unfair trade practices, improve the Carbon Border Adjustment Mechanism, and ensure affordable clean energy. Steel production in Europe is at an all-time low, with reduced demand and strong competition from low-cost imports, especially from China. Since 2020, the sector has lost thousands of jobs, with a significant impact on the European economy.