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Stainless Steel Market Update
Spot market prices for Asian stainless steel saw gains today, with 300-series grades increasing by up to 1.1%. This follows a recent period of stable nickel prices on the London Metal Exchange (LME), where prices have hovered around USD 15,596 per metric tonne since peaking again after April 9.
European SMEs: Vital Yet Overlooked
Small and medium-sized enterprises (SMEs) are often referred to as the backbone of the European economy. Despite this recognition, they continue to be marginalized in the policymaking process. While politicians frequently praise SMEs in public speeches, tangible support is lacking. In Brussels, legislation tends to reflect the interests of large corporations, leaving SMEs struggling to keep pace.
CBAM: A Case Study in Misaligned Policy
The EU’s Carbon Border Adjustment Mechanism (CBAM) is a prime example. Designed to level the playing field and promote climate responsibility, CBAM imposes strict compliance and documentation demands. The European Economic and Social Committee (EESC) warns that these requirements are particularly burdensome for smaller businesses that lack dedicated compliance departments.
CBAM highlights a recurring problem: European policies are frequently tailored to large firms, expecting SMEs to comply with little consideration for their limited resources.
Structural Imbalance in Industrial Policy
This imbalance is not confined to climate policy. Whether discussing the energy transition, the digital economy, or the single market, large corporations dominate the conversation. Meanwhile, SMEs—accounting for 99% of European businesses—receive little attention. As a result, they face growing regulatory burdens without adequate support or representation.
EESC’s Call for Reform
In response, the EESC has proposed several reforms:
All new regulations should undergo an SME impact assessment or "stress test"
Digital reporting tools should be simplified
Bureaucratic requirements must be reduced in favor of practical efficiency
Yet, these suggestions have largely remained symbolic, with minimal implementation.
A Needed Shift in European Policy
Europe must now take decisive action. SMEs should be at the center of industrial and economic policy—not treated as an afterthought. Genuine inclusion, protection, and targeted support are critical. Without this, Europe risks not only economic stagnation but also the erosion of social and regional cohesion.
Large Associations Consolidate Power
Meanwhile, large corporate-dominated associations like EUROFER and EUROMETAL are consolidating their influence under the European Steel and Metals Action Plan. Though they claim to represent all companies, their agenda caters almost exclusively to big players, further sidelining SMEs.
Disproportionate Representation
Despite claims of broad representation, EUROMETAL’s board composition reveals the reality: only one member represents SMEs—the president. The remaining members are from large corporations or affiliated associations, many linked to major industry players like ArcelorMittal Europe, Tata Steel Europe, Salzgitter, and Klöckner & Co.
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