IRON and STEEL
The proposed changes to existing EU safeguard measures for hot-rolled coil would result in a drop in import volumes and consequently injure independent distribution in Europe, Italian steel distributors’ association Assofermet said in a letter to the European Commission (EC).
In late May, the EC presented a draft of the new safeguard measures to the World Trade Organization, which will go into effect after June 30.
“The Commission’s proposed amendments for product category 1 [HRC] would result in a considerable reduction in the volume of imported hot-rolled flat products into the EU, which would have a detrimental impact on the economic situation of EU independent users, importers, distribution and service steel centers,” Assofermet said.
According to the proposed amendments, global quarterly quotas currently in place would be changed to country-specific quarterly quotas for countries that exceeded 5% of total material deliveries in the reference period of 2015-2017. This means that Turkey, Russia, Serbia, India and South Korea would get...
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