ACCOUNT PROFILE

European Service Center calls for revision of safeguard measures

Posted on 09 July 2021

European Service Center and steel distributors expressed their disappointment with the European Commission's decision to extend the safeguard measures for another three years and hoped to make favorable revisions in 2022.

The Italian steel service center Gabrielli Group believed that it would be revised next year, especially as Europe and the US conduct further negotiations to eliminate Section 232 tariffs.

In addition, the recovery of demand in Europe might be under pressure due to insufficient production, especially in the coil sector, and safeguard measures had exacerbated this pressure.

The market's steadiness would largely depend on the speed at which the supply chain could replenish inventory after the destocking period and solved port cargo transportation problems caused by safeguard quotas.     

Source : Yieh