Ukrainian steel producers struggle to compete in EU market as Russia maintains strong position
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Update time : 2024-11-15 19:31:01
Russian steel companies retain a strong competitive position in the EU market despite sanctions, especially in slab supplies, according to Oleksandr Vodoviz, Head of the Office of Metinvest's CEO, speaking at the Kyiv International Economic Forum.
Vodoviz highlighted that Russian suppliers offer low-cost semi-finished slabs, which appeal to EU steelmakers, including those in Italy, while Ukrainian companies cannot access these discounted products, impacting their ability to compete. He stressed that Ukrainian producers need fair conditions, including financial grants similar to those available to European firms, to meet the EU's Carbon Border Adjustment Mechanism (CBAM) requirements and compete effectively.
European companies benefit from substantial funding for environmental upgrades, reinforcing their market position. Vodoviz underscored the need for fair competition, noting that even with sanctions, Russian companies face fewer barriers, complicating Ukrainian steel producers' access to the EU market and threatening their future competitiveness.
