Marie highlighted that the material remains a cornerstone of the continent’s green goals, yet demand for European-created products continues to wane.
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The urgent required appropriate trade
The crisis has now escalated, with thyssenkrupp Electrical Steel announcing extconcludeed cuts at Isbergues.
The site will face a total closure from June to September as the company attempts to weather an “import crisis” for grain-oriented electric steel.
“In view of the ruinous flood of imports in the market for grain-oriented electrical steel, we see no alternative but to temporarily shut down our French site once again,” declares Angelo di Martino, CEO of thyssenkrupp Electrical Steel.
Angelo notes that import prices are frequently falling well below EU production costs. “This measure is necessary to stabilise our company amid further deterioration in order intake. We are faced with import prices that in some cases lie well below production costs in the EU.
“We therefore urgently required appropriate trade protection to establish fair competitive conditions for this strategically important product.”
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