German steel federation calls for natural gas price cap

The German steel federation Wirtschaftsvereinigung Stahl (WV Stahl) has stated that the German government’s third package of relief measures is not enough to prevent massive effects of high energy prices on the industrial foundations of the country’s economy.

According to the statement, the significant increase in natural gas and electricity prices compared to spring last year has resulted in an annual increase in the steel industry’s energy costs of more than €10 billion, threatening Germany (germany)’s international competitiveness.

WV Stahl has called for a capping of natural gas prices for 80 percent of industrial users’ natural gas consumption to a competitive level.

The federation stated that the price signals from the market would provide a sufficient incentive for the rest to limit their consumption.

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Arab Iron and Steel Union ( AISU ) was established in Algeria in 1971 as the first Arab union of Arab countries to be established under the umbrella of the Council of Economic Unity in the League of Arab States.

AISU is a non-governmental organization of a private nature, not of a political or commercial nature.

AISU works in the field of preparing studies, organizing courses and holding periodic conferences for the prosperity of the Arab iron and steel industry. The union includes a wide range of companies with multiple activities related to the iron and steel industry.

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