The European Commission (EC) launched the safeguard investigation into 26 steel product types on March 26
in an attempt to prevent the redirection of steel in the global export markets from the United States to the EU market. Among other products, the case will also look into hot-rolled steel sheet and strip.
“The mills are going to use the case to [try to] get higher prices,” a Northern European trader said. “The case gives steelmakers an opportunity to ask for higher prices despite lower import prices and a lack of demand.”
In the meantime, domestic prices for HRC have been stable across Europe, with no deals heard for new rolling material....