The European Commission's imposition of tariff rate quotas on 23 steel products earlier this year is severely threatening non-integrated downstream wire rod consumers who have become increasingly reliant on imports over the last few years, the European Non-Integrated Wire Rod Processors Association (Eunirpa) said.
Wire rod imports into Europe have increased sharply in the past three years - the timeframe for the calculation of the allowable import volume over one year before a 25% tariff rate kicks in - and the quota amount is wholly insufficient for those companies whose reliance on imports is still growing, according to Kris Van Ginderdeuren, commercial director at Van Merksteijn International and president of Eunirpa. The EC set the preliminary safeguard measures in response to...