May 28, 2021
EU TO EXTEND SAFEGUARDS FOR ONE YEAR: SOURCES
2021-07-14
EU safeguard measures are expected to be extended for one year from the beginning of July, Kallanish learns from sources in the market.
The European Commission is yet to publish a proposal on the future of the measures. Sources in Europe, though, report that local steel associations are communicating that a decision is close.
According to rumours, the measures could be extended for a period of one year with an increase of tax-free quotas of 5% compared to the current volumes.
An extension of measures would be welcomed by steelmakers in Europe, but a decision to extend them only for one year could create further uncertainty in the market, among buyers and suppliers alike.
“An extension until mid-2022 would only mean re-creating the current scenario of uncertainty in 12 months,” a steel processor says. “Imports need to be ordered many months in advance and the uncertainty over the measures is hurting the possibility to make long-term plans.”
Emanuele Norsa Italy
Source: Eurometal
