Steel plates for building and residential use are set to become the first to sell in Europe since the introduction of the European Union’s first steel plates in 2009, the European Steel Association said on Thursday.
The plates will be manufactured at the Steel Association of Europe (SAE) in France, which will be sold at a price of 3.6 million euros ($4.3 million), the SAE said in a statement.
The first plates were initially delivered in 2016, but the European Commission in April said that the production and distribution process was not yet completed.
The SAE is seeking to sell the plates to customers in France and Germany, which together account for about 80 percent of the EU’s steel production capacity.
SAE CEO Jean-Francois Dufour said the plates will make it possible for the European steel industry to meet demand for new production, especially for steel products such as cement and glass, which are more susceptible to corrosion.
The SAE hopes to have the plates ready for sale in 2019.
The first steelplate was sold in 2016 to the Swiss steelmaker Rheinmetall.
The European Commission has also approved plans to produce about 1 million additional steel plates, which would increase production capacity to 1.8 million by 2020, the SAES said.
The EU has pledged to reduce its steel imports by nearly 30 percent by 2023.