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ltaly's Assofermet disappointed with EU's Steel-2025年广州国际有色金属工业（铜业）展览会-Non-Ferrous Metals Exhibition-Copper Exhibition-The 25th China(Guangzhou) Int'l Non-Ferrous Metals (Copper) Exhibition
3/24/2025 有色金属展-铜材展-non-ferrous metals expo |
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The ltalian association of steel traders and distributors Assofermet has expressed its disappointment with thenew European Steel and Metals Action Plan presented by the European Commission, in a press release
published on March 19.Despite its numerous protectionist policies, the European Union has lost 10 percent of its domestic steelproduction in the last decade due to global overcapacity. Assofermet said it believes that this new action planas outlined, is incomplete and too focused on production. it does not contain, for instance, stimulus measures"aiming to increase [steell demand in the internal market, revive EU [steell production and the entire steelsupply chain," Assofermet noted.
Without a decisive action, EU steel production is set to decline in terms of output, undermining thedecarbonization progress achieved so far, the association stated, adding, "The tariff war, triggered by theprotectionist policies of the USA, will put EU exports of steel and aluminum, as well as of manufactured goods,equipment, and derived machinery, in great dificulty, which will lead, as envisaged in the plan, to a furthertightening of EU trade defense measures on imports, with a clear negative impact on European GDP."
Assofermet said it also hopes for an implementation of energy cost reductions and that the plan will finally becorrected and revised with sharper measures aimed at reviving domestic steel demand.
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