The safeguard measures were imposed
for an initial period of three years and were scheduled to expire on June 30, 2021.
On February 26, the EC started an investigation
into the possible extension of the existing safeguard measures imposed on 26 steel product categories imported into the EU. The results of this have yet to be announced, but will be made public by June 30 at the latest.
Speakers in the ÇIB webinar on May 6 noted that steel prices have been increasing sharply in Europe because of limited supply.
“Such sharp increases were also observed in the United States, when Section 232 [import] duties [on various products] were introduced [by former President Donald Trump],” one speaker said.
Current steel prices in the US were significantly higher than in most other regions in the world.
Fastmarkets’ steel hot-rolled coil index, fob mill US, was $1,503 per short ton on May...