27 February 2026 – Asian base metals moved sideways on Friday. Meanwhile, the almost daily expanding list of demands from EU steelmakers is becoming increasingly bold – at the direct expense of their own customers.
Base Metals Move Sideways
Asian base metal prices traded steadily sideways on Friday, closing the first week after the Chinese New Year holiday on a firm note.
In Europe as well, nickel, aluminium, and copper appear set to finish the week on a positive footing.
EU Steelmakers’ Demands Grow More Brazen
Once again, EU steelmakers, through their association EUROFER, have directed fresh demands at policymakers in Brussels.
This time, dissatisfaction centers on the still-unpublished EU Industrial Accelerator Act and on proposals concerning a quota for “green steel” in public procurement.
Binding “Buy European” Quota?
Instead, corporate leadership circles are calling for a binding quota requiring that 25% of steel used in public projects be produced within the EU. Otherwise, they argue, green steel from non-EU sources could be used.
Who is still expected to believe the steel industry’s narrative of existential distress when reviewing this ever-growing catalogue of demands?
The calls now include: New tariffs, lower import quotas, expansion of CBAM, energy cost subsidies, extension of free EU ETS certificate allocations, and now a binding “Buy European” quota. All this despite EU member states already committing more than €15 billion in subsidies for steel decarbonization.
A Clear System Behind the Demands
Examining the logic behind these demands reveals a consistent pattern. Ultimately, all of this must be financed through taxpayer funds, meaning primarily by small and medium-sized enterprises, the largest group of taxpayers in the EU.
The resulting damage is twofold. Steelmakers would not only receive further financial support but simultaneously undermine the competitiveness of the metal-processing downstream industry – effectively weakening their own customer base.
In essence, this represents a classic redistribution mechanism. And redistribution remains one of the central pillars of communism.
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