EU steel production falls to historic low, industry group says

Steel production across the European Union has fallen to a historic low, according to remarks by Axel Eggert, director general of the European Steel Association (EUROFER), reported by TASS citing the Financial Times.

Eggert noted that Europe stands out as the only major global region where steelmaking capacity is currently shrinking, a trend that contrasts with production patterns in other major industrial regions.

Pressures on European industry

Europe's steel sector has faced a combination of challenges in recent years, including elevated energy costs, competition from lower-cost producers abroad, and broader questions about the industry's path toward decarbonization under EU climate policy.

A sustained decline in production capacity raises questions about the long-term competitiveness of the European steel industry and its ability to meet domestic demand without greater reliance on imports.

Industry representatives have periodically called for policy measures to support the sector, including protections against cheaper imports and support for the energy-intensive transition to lower-carbon production methods, though no new measures were detailed in connection with these remarks.