Metal and steel industry urgently needs relief

Expensive Germany Metal and steel industry urgently needs relief

2024-06-18 Source: WSM | Translated by AI 1 min Reading Time

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The production of steel and metal processors is in decline. Compared to March 2024, the figures fell by eight percent in April and by 6.8 percent compared to the same month last year.

WSM Managing Director Christian Vietmeyer demands an effective Industrial Deal for the German metal and steel industry. But there are hitches at all corners ...(Image: WSM) — WSM Managing Director Christian Vietmeyer demands an effective Industrial Deal for the German metal and steel industry. But there are hitches at all corners ...
(Image: WSM)

As the Economic Association for Steel and Metal Processing (WSM) has analyzed, the industry is doing increasingly worse. In addition, energy costs are eating up medium-sized companies, it says. The electricity tax relief is only small and takes forever. At the same time, the network charges that increased in January are making a significant impact. This cannot continue, the WSM criticizes. At the same time, industry representatives are hoping for more industry-friendly signals from Brussels after the EU elections. The European elections clearly showed that there is no longer a majority for a policy against the European industry. "We need an equal Industrial Deal. The new Commission President has the voters' mandate for this," says Christian Vietmeyer, managing director of WSM. The German steel and metal processing companies, which provide around 500,000 jobs, desperately need this - in European as well as German industrial policy.

When others pay, politics can be quick ...

Previous corporate aids have often been more of a paper exercise - like the electricity tax reliefs announced with great fanfare by the Federal Minister of Finance. For these make up less than 10 percent of the electricity price and also cause significant problems, as Vietmeyer criticizes. Companies can only apply for them in hindsight and then wait for months for the refund of the money due to them. The reason for this is the lack of official digitalization. Vietmeyer commented: "We are hearing from medium-sized companies that the responsible authority is still processing applications from last year." Things look very different with the network charges, which make up around 25 percent of the electricity price. Their implementation has clearly worked, the higher costs are due since January 2024 - and thus another grab into the company cash register, which is becoming increasingly empty due to the tepid order and production numbers.

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