EU steel executives demand import action

45 European steel leaders and the head of the steel association sent an open letter this week to the continent's heads of state and government and EU institutions. The goal is to require the strengthening of existing protective measures from the beginning of July.

In a publication published by the Eurofer steel company, the serious consequences of the negative shift in the outlook for the European steel industry are now clear. “There have been announced plant closings or major production cuts across the EU. Thousands of jobs are at risk. This crisis is underpinned by long-term trends. Global overcapacity in steel and the use of the EU market as the world's dumping ground for overcapacity are at the root of the problem, ”the authors note.

As a consequence, the leaders are also calling for an emergency meeting between the European authorities and the EU steel industry. It is "... to discuss solutions to ensure the sector's survival in the face of unbalanced external pressures."

The European Commission began a review last month of existing safeguards. Metallurgists and suppliers are demanding that the measures be even more stringent. At the same time, other market observers point out that duty-free quotas on some key products such as rebar, wire rod and HDG for the automotive industry need to be increased to avoid market change.