A European Steel and Metals Action Plan

4th commission meeting, 19 June 2025 WORKING DOCUMENT Commission for Economic Policy A European Steel and Metals Action Plan _____________ Rapporteur: Guillermo Peláez Álvarez (ES/PES) ECON-VIII/003 Regional Minister for Finance and European Funds, Government of the Principality of Asturias _____________ This document will be discussed at the meeting of the ECON Commission to be held from 10:00 to 13:00 on 19 June 2025. Reference documents: COM(2023) 160 final, COM(2023) 165 final Working document of the Commission for Economic Policy – A European Steel and Metals Action Plan 1. INTRODUCTION The importance of the European metals industry is undeniable. The metals industry is a strategic and fundamental pillar of the EU, and is also vital for other key driving industries, such as the automotive and defence industries. The structural and economic challenges currently facing the European metals industry are hampering its competitiveness on the global stage. As can be seen in concrete data, the current downturn in steel consumption in the EU started in the second half of 2022, due to Russia’s invasion of Ukraine and the well-known increase in energy prices. Since then, there has been a downward trend in demand, consolidated by global economic uncertainty and overall manufacturing weakness1. According to a European Commission communication, the steel and base metals sectors in Europe are both facing high energy...