Ferrous metals: Is the cost rising?
A report commissioned by the European Union said that the cost of producing and using ferrous metals had risen by about a quarter between 2008 and 2013.
The report, by the commission’s European Economic and Financial Affairs Directorate, was commissioned by European Union member states and examined the economic costs and benefits of non-fibrous metals production, including non-terrestrial metals and the production of ceramics.
The EU also estimated the cost to the EU of producing ceramic and stainless steel to be about €300 million ($337 million).
“We have a problem,” the commission said in a statement, “and the answer is simple: the prices of non ferrous metal commodities have risen significantly in recent years.”
The report said that “non-fiber metal prices are more than twice as high as those for steel,” and that “fibers account for a large share of EU production.”
According to the commission, non-metal prices have been rising since 2007 and that the EU’s total imports of non iron, non iron alloys, non copper and non tin were up by more than 50 percent between 2007 and 2014.
The commission said that it was concerned that the non-renewable metals market was becoming more competitive.
“The EU has an interest in ensuring that its products are widely available and affordable, and in this regard we are committed to a coordinated and effective policy to increase the use of non non-metals as a fuel source for transport,” it said.
The Commission said that its actions were in line with the Commission’s “zero carbon” strategy.
“This strategy calls for the EU to reduce greenhouse gas emissions by at least 40 percent by 2030 from 2005 levels,” the statement said.