Germany's 11 steel producing regions have represented a new Steel Alliance named Stahlallianz, which aims to advance decarbonization efforts and extend protective quotas on steel imports.
The "Steel Alliance", expecting the steel import quota, which expires in June 2024, to be extended until 2026, expressed its support for the German government's efforts to decarbonize the manufacturing industry. The Steel Alliance, which is demanding the inclusion of European steel products in the Carbon Border Adjustment Mechanism (CBAM) and expects the steel import quota to be extended until 2026, also reported that the government expects further support through investments in the steel sector.
The German steel industry, which is seeking 48 TWh of additional electricity by 2030 with the decarbonization process, highlighted the high cost of energy and its impact on international competitiveness.
It has been reported from the German government that Stahlallianz has requested a limited extension of steel safeguards within the framework of World Trade Organization rules.
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