Investment in European steel grows, despite cheap imports

According to WorldAutoSteel, a branch of the World Steel Association that represents the automotive industry, innovation in automotive steel continues at a rapid pace, giving vehicle manufacturers hundreds of advanced grades to choose from. This is being driven by a number of trends, including lightweighting, safety and cost.

European manufacturers of steel are faced with the challenge of developing products that fit these trends, while simultaneously competing with cheap imported steel. Some companies are tackling these challenges head on by investing in new facilities and developing new grades of steel.