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German steelmakers requiring stricter EU safeguard measures-The 20th China (Guangzhou) Int’l Spring Industry Exhibition
1/10/2019 彈簧展- Spring Industry Exhibition-Spring expo |
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German steelmakers asked the amendments to the European Commission’s safeguard measure for steel imports, according to German Steel Federation (WV Stahl). The WV Stahl President said the proposals were not suitable for protecting the regional steel industry due to the redirected steel imports after US’ imposition of duty.
The EU submitted the proposed country-specific quotas for exports to the World Trade Organization (WTO), and set a quarterly quotas for each product for all other countries. Only hot-rolled coil (HRC) had quarterly global quota.
However, steelmakers were not happy with the plan to rise quota level by 5% in the near future. They saw the increase in quota levels each year would not be able to prevent steel price from dropping like those appeared in the fourth quarter of last year.
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