European industry debates political shift, HRC quota cap

European steel industry representatives gathered in Milan last week for Kallanish Europe Steel Markets 2024, where discussion centred around the continent’s deindustrialisation, gloomy demand outlook for the second half-year and the European Commission’s proposal to cap individual origins within the “other country” HRC tariff-rate quota.

Decarbonisation, naturally, was the overarching theme, with speakers pointing out that low- emission steel needs global standardisation, an international carbon price, and incentives to encourage consumers to buy green. After all, it’s no good producing green steel if no one will buy it – and it was the firm conclusion of a buyers’ panel that most steel buyers still remain motivated by price rather than environmental concerns.

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