The European Confederation of Iron and Steel Industries (EUROFER) recently released its Annual Report 2000. According to the report, steel production in the European Union (EU) increased by 5% compared to the previous year, reaching a new level of 163 million tons. This represents 19% of global steel production.
The report also notes "unsolved structural problems have led to increasing protectionist tendencies as has become obvious recently in the US. This is of great concern." The European steel industry is "urging the governments of the major steel producing countries to address the problem of artificially maintained inefficient capacities and to seek a strict multilateral discipline eliminating market distorting state aid in the steel sector."
In conclusion, the report states: "EUROFER remains convinced that present trade defense instruments do not offer the means to deal effectively and appropriately with the problems the world steel market has been confronted with since 1998. Accordingly, EUROFER remains committed to fostering approaches that would make it possible to better address structural problems within the world steel industry, and to design measures providing for consultations to help avoid dangerous trade developments and the occurrence of injury."
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