EU steelmakers call for urgent action on energy prices

Steelmakers have called on the European Commission to address the high wholesale electricity prices undermining the decarbonisation and sustainability of EU production.

Steel buyers across the EU told steel market analysis compan MEPS that the shift away from imports due to emissions-based CBAM taxes is now the main driver of increased domestic prices. However, rising electricity costs were among the factors cited by European steelmakers as they pushed for increased selling prices, this month.
Eurofer has backed the call for a package of emergency industrial policy measures issued by a coalition of 1,300 European companies and industrial associations ahead of an EU leaders’ retreat to Alden Biesen, in eastern Belgium, on February 12. Alongside action to cut EU industrial sectors’ electricity and carbon costs, it calls for the Commission to secure trade agreements that improve access to overseas markets and encourage the procurement of low-emissions products made in Europe.
Source: MEPS