In her presentation "Navigating the Future: Challenges, Risks and Opportunities for the Spanish Steel Industry", Hermoso Arnao discussed the structural threats facing the European industry and the Spanish steel industry's strategic responses to these challenges.
Among the highlights of the presentation was the decline of Europe's industrial weight in the global economy from 20% in 2000 to 14% today, and the growing urgency to counter this decline. Hermoso Arnao emphasized that Europe faces the risk of recession and job losses.
Another important topic was the threat of global overcapacity as new plants based on carbon-intensive technologies come online in Asia and the Middle East. It was pointed out that this situation seriously threatens the competitiveness of European steel producers.
Touching on the energy market, Hermoso Arnao stated that although the use of renewable energy is increasing, this advantage is not reflected in industrial electricity prices. She also added that tax burdens and regulations on energy prices in the European domestic market create an imbalance in the sector.
Hermoso Arnao added that despite all these challenges, the Spanish steel industry is ready to lead the transformation and underlined the sector's commitment to decarbonization projects in areas such as energy efficiency, digitalization, circular economy and the development of new steel products suitable for the energy transition, as well as the transition from blast furnaces to electric arc furnaces and hydrogen technologies.
Hermoso Arnao also emphasized the importance of young and diverse talent in the industry, highlighting the need to implement educational initiatives that will increase the visibility of female role models and connect with new generations.
“The future of steel cannot be improvised,” added Hermoso Arnao, adding that Spain and Europe are building this future today through innovation, collaboration and an ambitious industrial vision.
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