The European Steel Association (EUROFER) has said that it welcomes the continuation of the steel safeguard measures, which, it stated, supports the stability of the EU steel market while ensuring smooth supply flows.
“This decision brings stability to the EU steel market while avoiding excessive, market-disrupting steel imports from third countries”, said Axel Eggert, director general of EUROFER.
The increase of the quota volumes from three percent to four percent has pushed up quota levels far above the demand situation, which has not recovered yet from the Covid-crisis, EUROFER noted “This gap will now be further increased. However, there is no economic need for such an increase”, Mr. Eggert concluded.
The EC has extended the EU’s safeguard measures encompassing 26 steel product categories within the measures until June 30, 2024, and has increased the level of the tariff-rate quotas for all product categories by four percent for the period July 1, 2022, to June 30, 2023, and from July 1, 2023 to June 30, 2024, as SteelOrbis previously reported.