EU steel industry will need support to achieve closed loop manufacturing

The EU’s steel manufacturing industry will need European support and pan-industrial cooperation to the circular economy requirements, said Axel Eggert, general director of industry association EUROFER at a conference organized by Polish coal producer JSW in Brussels. Eggert also said that in the future the European economy will be based on steel and coking coal, which is a very important element in steel manufacturing. He added that coking coal will continue to be essential for the industry for the next few decades and despite alternative solutions becoming available, the industry will not be able to quit using it overnight. The European steel industry includes over 500 companies producing 160 million metric tonnes of steel each year. It employs 320,000 people and creates 7 million more jobs in related industries.