European steel producers, represented by regional steel association Eurofer, hope to achieve a further toughening of the region's existing safeguard measures on steel product imports, market sources told Fastmarkets on Tuesday February 25.
The measures imposed by the European Commission (EC) are currently under review, and the producers hope that this will include a reduction by one-third of the limit on imports of hot-rolled coil allowed from any country.The current safeguard mechanism will increase the level of tariff-free quotas for each product category by 3% each year, but Eurofer has proposed to reduce this increase to 1%. The next liberalization is scheduled...