EcoMin: We Perceive U.S. Steel's Move as Response to Pan-European Problem

Bratislava, July 20 (TASR) - The announced move of Kosice-based steel mill U.S. Steel is a consequence of the current situation in the market and imports of cheap steel from countries outside the European Union (EU), which do not have to fulfil strict European emission standards, Economy Ministry spokesperson Maros Stano told TASR in response to the announced reduction in the number of employees, adding that in this context the ministry will continue to impose pressure on the European Commission (EC). From the point of view of the ministry, it is a reaction to a pan-European problem that it has been drawing attention to for a long time. "The situation is being worsened at the same time by the enormous increase in prices of emission allowances and electricity across the EU. When the United States of America has increased its import duties, foreign producers increased pressure on imports into the EU. Slovakia has been criticising for a long time that the European Commission is insufficiently protecting its market," noted Stano, adding that the measures taken so far are ineffective and threaten European steelmaking in the long run. According to the spokesperson, the Economy Ministry and the Government have been communicating with U.S. Steel Kosice as an important employer in the long run to seek solutions to the situation. "One of them could be higher electricity price compensation, depending on the state budget," noted Stano. At the same time, however, he pointed out that the current development also suggests an overall cooling of the economy and the related drop in orders. "In the future, this will probably require introduction of support and incentive tools both at the level of individual countries but also at the European level," he said. The management of U.S. Steel Kosice said on Friday (July 19) that by the end of 2021 it would reduce the number of employees working in the steel mill and its subsidiaries by 2,500. am