[ad_1]
By the end of the year, European production capacity will have been cut in half to 1.1 million tonnes, it added.
“Emergency situations require emergency measures also for industry,” said the European Steel Association (Eurofer).
“The Commission proposals show limited ambition and scope, as they will not reduce energy prices and costs for the steel industry,” said Axel Eggert, Eurofer director general.
The European steel sector produces about 153 million tonnes a year and employs 310,000 workers.
Both groups demanded measures to bring down power and gas costs for industry.
The EU plan did not include an earlier idea to cap Russian gas prices. EU countries are divided over whether broader gas price caps would help or harm efforts to secure winter supplies.
Commission President Ursula von der Leyen said on Wednesday the executive was “discussing” price caps and had launched talks with Norway on lowering gas prices.
(Reporting by Eric Onstad; Editing by Kirsten Donovan)
((eric.onstad@thomsonreuters.com; +44 20 7542 7093; Twitter https://twitter.com/reutersEricO; Reuters Messaging: eric.onstad.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
[ad_2]
Source link
