China might implement final safeguards to last for 3 years

China might implement final safeguards to last for 3 years

The Chinese Government has been discussing the possibility of changing the existing temporary safeguard measures into official safeguards, with a new quota allocation with a volume not less than the average of the last 3 year import volume. According to the latest information received by SteelOrbis, the Chinese Government authorities comment that the safeguard measures will likely be extended by 20 days into December in order to allow enough time for the Government to reach a consensus on the final safeguard measures. It is anticipated that the Chinese final safeguard measures will last for 3 more years just like S201 measures of the US and EU safeguard measures.