Eurofer calls for 75% cut to EU steel import quotas because of 'unprecedented implosion' of market

Eurofer has requested an immediate reduction of 75% in EU safeguard quotas for imported steel to support European industry during the crisis caused by the Covid-19 pandemic.

“Reflecting the unprecedented implosion of the European steel market, the current quota levels need to be drastically reduced immediately for a period of six months, and by about 75% to align them with the devastating situation,” the European steel association said in a letter to the president of the European Commission (EC), Ursula von der Leyen, seen by Fastmarkets on Friday April 3.

“In return, the tariff level of 25% could be somewhat reduced. A further review of the situation could be done for the last...

Published

Maria Tanatar

April 03, 2020

16:25 GMT

London