Europe’s steel industry is urging the European Union to include steel in its forthcoming Industrial Accelerator Act, emphasizing the need to prioritize locally-produced materials. Industry leaders stress that ‘local’ should refer to nearby EU nations such as the UK and Norway.
The EU’s plan, set to be unveiled next week, aims to boost key strategic sectors, including renewable energy and electric vehicles. However, it remains uncertain if low-carbon steel will be part of this initiative. The proposal was delayed amidst debates about which countries would fall under the ‘Made in Europe’ umbrella.
Eurofer’s director general Axel Eggert argues against including distant free trade countries, highlighting the need to focus on decarbonization investments. He points out that major economies like the U.S. and China protect domestic production, reinforcing the call for the EU to follow suit with its steel industry.
(With inputs from agencies.)
