The European Commission's safeguard import quotas for steel products must be improved and made permanent if the European steel industry is to remain competitive, ArcelorMittal Europe chief executive officer Aditya Mittal said on Tuesday December 11.
The EC's import quotas were introduced to combat the expected influx of metal following the imposition of section 232 import tariffs on steel and aluminium by the United States. But Mittal suggested that the need for quotas predated that announcement. While the demand for long steel products in Europe remains below its pre-financial crisis levels at around 57 million tonnes per year, down from about 69 million tpy, the use of imported material...