Protectionism in the global steel market will likely become stronger, with Canada and Egypt likely to start safeguard cases, participants at the Eurometal Steel Net Forum & International Steel Trade Day in Hamburg, Germany, heard on Tuesday October 9.
"We see many investigations taking place, one copying another, a domino effect on many levels, in many cases. We still would not exclude more escalation, as now the speed of protectionism measures is really too fast," Yuriy Rudyuk, partner at Brussels-based law firm Van Bael & Bellis, told conference delegates. "The protectionist mood prevails."Both Canada and Egypt may start safeguard investigations, similar to those already started in the US, Europe and Turkey, participants saidIn August 2018, Canada's Department of Finance held public consultations and invited all local companies in the steel sector to comment on a global safeguard action against steel imports. The Department of Finance is currently assessing the written submissions...