European steel industry faces crisis with import defence efforts

Eurofer's top executives play a critical role for the future of the European steel industry. These executives include Henrik Adam (EUROFER President, CEO of Tata Steel NH), Mario Arvedi Caldonazzo (EUROFER Vice President, CEO of Arvedi), Geert Van Poelvoorde (EUROFER Vice President, CEO of ArcelorMittal Europe), Timoteo Di Maulo (EUROFER Vice President, Aperam CEO), Lorenzo Riva (EUROFER Vice President, CEO of Riva Stahl), Hubert Zajicek (EUROFER Vice President, CEO of Voestalpine Steel Division) and Gunnar Groebler (EUROFER Vice President, CEO of Salzgitter AG).

Sources speaking to SteelRadar reported that the goal of these executives is to increase domestic steel prices by creating an import defense mechanism similar to the US Section 232. However, this situation negatively affects the entire European steel industry. According to sources, there are reports that Eurofer supports the imposition of tariffs on all imported finished steel products. European steel producers are increasing their lobbying for urgent import restrictions in the face of market pressure and decreasing demand.

This situation stands out as a matter of eliminating the ‘beast in the cradle’. Implementation of a Section 232-like regulation in Europe would endanger value-adding players such as distributors and service centres. They also emphasise the need to remove import barriers and state that it is time to rebuild market confidence.

Low demand stems from a lack of market confidence; efforts in Europe to support domestic producers by making imports more difficult have allowed them to increase prices at will, creating a near-monopolistic market. This needs to be addressed and prevented.