McCloskey team is joined by Eurofer’s Alessandro Sciamarelli, Director, Market Analysis and Economic Studies to discuss the evolving European Steel and Raw Materials Markets in current market conditions.
The European steel industry is at a pivotal moment, facing mounting challenges from trade dynamics, decarbonisation efforts, and shifting global supply and demand. Below are the core insights from the discussion:
Tariffs Are Resurfacing at a Difficult Time
The reintroduction of U.S. tariffs is adding pressure to an already fragile market. The EU’s trade surplus with the U.S. has significantly eroded since 2018, and further trade disruptions may be ahead.
Decarbonisation Goals Clash with Global Overcapacity
The industry is being asked to decarbonise while competing against markets with unchecked overcapacity. Without fair trade protections, European producers may struggle to remain viable as they transition to low-carbon production.
Lack of Standard for Green Steel Is Hindering Adoption
There is currently no universally accepted definition of “green steel,” which is creating uncertainty for buyers. Concerns around greenwashing and the absence of consistent pricing benchmarks are stalling broader adoption.
Raw Material Supply Chains Are Being Reshaped
Despite idle capacity within the EU (estimated at around 13 million tonnes), mills continue to source raw materials, indicating a strategic shift in procurement. Indonesian metallurgical coke is now entering the EU, while changes in Indian export policy have redirected trade flows.
Global Market Dynamics Are Shifting Rapidly
India is emerging as a major growth driver, while China appears to be stepping back. The EU, by contrast, risks stagnation. To stay relevant, European producers must adapt quickly to changing global demand patterns.
Speakers:
• Dr. James Stevenson, Vice President, Research and Analysis.
• Alessandro Sciamarelli, Director, Market Analysis and Economic Studies, EUROFER
• Ranjana von Wendland, Associate Director, Business Development, Steel Raw Materials.
• Maria Tanatar, Associate Director, Global Steel Business Development.