9 September 2024 – The latest EUROFER press release on the alleged crisis in the steel industry in the European Union is based on (deliberately?) false data. And Taiwan could make the entire stainless steel industry almost CO2-neutral in one fell swoop with a new 300 MW offshore wind farm. Will CBAM implode before the hard launch in 2026?
Latest EUROFER figures (deliberately?) wrong!
According to our research, the EUROFER press release dated 5 September 2024 on ‘European steel industry and manufacturing at existential risk: radical Clean Industrial Deal last train for stronger and greener EU, warns EUROFER’ contains obviously false figures.
EUROFER claims are based on false job data
The figures on the alleged loss of 80,000 jobs between 2009 and 2020 are false. Apparently, not only has the wrong period been used for the alleged job losses, but the UK was also forgotten to be excluded from the data after BREXIT in 2020, and that it should allegedly no longer be included in the EUROFER data since the report ‘European Steel in Figures 2022’.
It is particularly questionable that the EU27 jobs data (excluding the UK) from 2023 was simply subtracted from the EU28 jobs data from 2008 (including the UK, last updated in 2018).
European Steel in Figures incorrect since at least 2022
In addition, EUROFER has failed to correct at least the years 2014, 2015 and 2016 in its regular ‘European Steel in Figures’ (ESF) reports – these have shown incorrect figures since ESF 2022 and have never been corrected downwards for the employment figures from the UK.
Job loss figures (deliberately?) far too high!
In the period 2009 to 2020 and corrected downwards by the employment figures from the UK, the EU27 steel industry has not even lost half of the jobs, as claimed by EUROFER in its latest press release.
Further UK miscalculation in the period 2020 to 2023
The alleged decline in jobs by a further 23,000 jobs in the steel industry between 2020 and 2023 is also incorrect. Here, EUROFER also used job data that was not reduced by the UK.
EUROFER data not valid, urgent correction necessary!
For the years 2020 to 2023 and minus the UK jobs data, the EU steel industry lost just 6,515 jobs, contrary to EUROFER’s claims. In view of the alleged crisis in which the European steel industry claims to be mired, this marginal decline in employment of around 2% is not even worth mentioning and the miscalculations on the part of EUROFER are unforgivable. An immediate correction of the figures would be appropriate.
Steel imports flooding the EU?
The ratio calculation and the percentage figures cited by the EU steel lobby as alleged proof of an import glut are also non-existent when viewed in terms of real figures. In terms of volume, the share of flat and long imports (non alloy and other alloy steel and stainless steel) from third countries for deliveries has been stable since 2016 at around 25 million tonnes per year and was even well below average in 2023 at just 23.9 million tonnes.
Taiwan completes 300 MW offshore wind farm
Last week, Taiwan finalized the Zhang Neng offshore wind farm with a nominal capacity of 300 MW. Taiwan had already inaugurated the Changfang-Xidao wind farm with a capacity of 600 MW in May 2024. Another project, the Fengmiao wind farm, is set to provide a further 500 MW of clean wind energy.
Stainless steel industry in Taiwan almost CO2-neutral in one fell swoop?
This means that Taiwan has more than enough clean energy available to supply several million households with electricity or to make the majority of its EAF steel industry almost CO2-neutral in one fell swoop. It should be more than enough for the approximately one million tonnes of stainless steel that Taiwan produces every year.
EU CBAM: A bureaucratic failure
This shows once again what we have been saying for years: the EU Carbon Border Tax CBAM is a bureaucratic pipe-dream that will have no effect other than increasing costs for companies in the European Union.
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