EU stainless steel industry relies heavily on imports
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Update time : 2024-09-23 14:36:00
According to the European Commission’s Joint Research Centre, the EU's production of stainless steel is relatively limited compared to other categories and has no sufficient supply to the domestic market, which resulted in a heavy dependence on imports, at a ratio of 25%.
The Joint Research Centre also stressed that for volume, its related carbon dioxide consumption footprint is in the same magnitude as the most consumed products.
Besides, a panel of executives from European stainless steel producers said in a meeting that the EU Carbon Border Adjustment Mechanism (CBAM) will not benefit the European stainless steel industry due to its wrong conception and lack of applicability. The European industry will only exist on a level playing field. Something more global across the entire value chain will be more needed.
