EU steel traders lambast EC proposal to prolong import safeguards

European non-integrated steel traders and wire rod processors strongly oppose the European Commission's proposal to extend import safeguard measures for three more years, claiming that the decision neglects the interests of downstream steel users, Fastmarkets learnt on Wednesday June 16.

On June 11, the EC presented a draft document of the adjusted measures to member states, suggesting a three-year extension to the existing safeguard measures, and an increase to quota volumes of 3% year-on-year - lower than the 5% rise expected by market participants.
Market participants suggested that a 3% quota liberalization was not enough, considering the strong steel consumption in the region and the shortage of steel products across all sectors and supply chains.
"The liberalization rate of 3% is absolutely not enough to give the EU metal fabrication industry the chance to grow in the next few years," the president of the European Non-Integrated Wire Rod Producers' Association (Eunirpa), Kris Van Ginderdeuren, said in a statement seen by Fastmarkets.

"Besides the risk of retaliation from other countries [via the World...

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