CONTRIBUTOR:
Abdi Salad – Editor, Ferrous
EMEA, S&P Global Commodity
Insights.
FERROUS
73recyclinginternational.com | November/December | 2024
ket in general, Cebecioğlu concluded:
‘The near future does not look bright.
We will probably see the same trend
unless China stops exporting.’ Irepas’
latest short-term outlook states baldly:
‘There is simply not enough demand in
the world for all the steel produced’.
CALL TO ARMS
Faced with such challenges, steel com-
panies in Europe are calling for an EU
Steel Action Plan to restore competi-
tiveness, maintain the ‘green transi-
tion’, and protect steelworkers’ jobs.
They insist that EU action would help
the European steel sector to compete
in a tough global market. With global
overcapacity at a record high and
energy and raw material prices at
uncompetitive levels, the European
steel sector says it is in crisis with more
than 300 000 direct jobs and 2.3 mil-
lion indirect jobs at risk.
Axel Eggert, dg of the European Steel
Association (Eurofer) argues that steel
is the backbone of manufacturing and
vital for cleantech value chains, from
renewables to electric vehicles. ‘What
is at stake is more than just the steel
industry, it’s Europe’s prosperity and
resilience,’ he told EU policy makers in
a statement jointly issued with sup-
portive MEPs. ‘Billions of our invest-
ments in decarbonisation are at risk,
while we have to bear energy costs
that are 2-3 times higher than those of
our main competitors in the US and
China.’
STEEL STATS
World crude steel production in
September was 143.6 Mt, a 4.7%
decrease compared to September
2023. Data from the 71 countries
reporting to the World Steel
Association (worldsteel) show that
China’s total in September was 77.1
Mt, down 6.1% on the same month a
year earlier. Indian production also
declined, by 0.2%, to 11.7 Mt.
Of the remaining countries in world-
steel’s top 10 list, Japan delivered 6.6
Mt, down 5.8%; the United States 6.7
Mt (+1.2%); Russia an estimated 5.6
Mt (-10.3%); South Korea 5.5 Mt
(+1.3%); Germany 3.0 Mt (+4.3%);
Turkey 3.1 Mt (+6.5%); Brazil 2.8 Mt
(+9.9%); Iran (estimated) 1.5 Mt
(-41.2%).
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