Measures taken in conjunction with the safeguard case against a number of imported steel products in the EU will have a negative impact on Europe's independent distributors, sources have told Metal Bulletin.
The European Commission (EC) launched a safeguard case into 26 carbon and stainless steel products imported into the EU on March 26. The EC claims that the investigation was started to prevent injury to domestic industry from imports redirected from the US.Material targeted by US Section 232 import tariffs from countries such as Turkey could try to find a new home in European markets, European market sources have said.While European steel association Eurofer, which represents steelmakers, welcomed the trade case and called for a swift decision on the measures, EU trading sources told Metal Bulletin that they were confused by the evidence used to open the case and that the measures imposed could have negative effects for Europe's distributors.The EC is considering options such as a blanket tariff, a blanket quota or targeted quotas on certain countries, sources said.Although it is difficult to fully evaluate any consequences at this early...