EU too slow to adopt trade measures to protect steel prices, Jefferies says

The European Union must adopt a more proactive trade policy to stem the flow of imports that has seen local steel producers lose market share, Jefferies said in a research note on Wednesday December 9.

EU and US trade policy measures to be announced in the first quarter of 2016 will probably “serve as key drivers of steel sector equity performance over the medium term”, the investment bank’s analysts said.
However, they warned that the EU’s “slow and cautious behaviour” on trade defences is likely to leave open gaps in the market for cheap steel imports, which have increased in volume year-on-year by 19% so far in 2015.
The European Commission (EC) has three pending anti-dumping investigations involving steel products.

Two of these cases, concerning cold rolled coil (CRC) from China and Russia and rebar from China, target roughly “16% of total import volumes” in the year...


Viral Shah

December 09, 2015

16:35 GMT