Gunnar Groebler, president of the German Steel Federation (WV Stahl), has released a statement regarding the current challenges the domestic steel industry is facing, following a meeting with German Chancellor Olaf Scholz.
Mr. Groebler stated that the Germany steel industry is under threat from unfair competition caused by low-cost imports in Europe. Therefore, Europe must take action as a whole to protect the steel industry and put clear protective measures in place. So, he has called on the EU to hold a steel summit to achieve this.
The WV Stahl official pointed out that the other threat is on a national level. High energy costs are still the most critical issue that weighs down on the steel industry. He underlined that the government has to significantly reduce electricity prices in the long term and that state relief worth €1.3 billion proposed by the politicians for transmission usage fees is not enough. As a result, the steel industry is in need of a future-oriented solution to remain competitive in the long run.
As SteelOrbis reported earlier, Scholz unveiled several measures to help Germany’s struggling steel industry, which has been under the pressure from high energy costs, low-priced imports and an economic downturn.