The European Steel Association (EUROFER) has stated that the economic trends of 2015 are continuing in 2016 as well. In its assessment of 2016 so far, EUROFER noted that the demand in Europe is continuing to increase at a reasonable pace, but this increase also boosts the imports of dumped and cheap foreign steel products in Europe.
According to EUROFER’s statement, these imports mostly come from China because of its oversupply and its slowing economic growth. In the last 18 months, China’s steel imports to Europe more than doubled. In parallel with the rising dumped imports of China, EUROFER stated that until China provides the necessary conditions, it will continue to reject the recognition or treatment of China as a market economy.
In addition, EUROFER announced that it will pay special attention in 2016 to the use of EU trade defense measures effectively and rapidly against the rising tide of unfair trade practices of the third countries and the issue of granting market economy status to China.