The European Steel Association (Eurofer) has called for significant adjustments to the European Commission’s steel safeguard measures as part of an ongoing review, according to Yuriy Rudyuk, a partner at the law firm Van Bael & Bellis, reported Argus Media.
Eurofer has proposed reducing safeguard quota volumes to address the declining steel demand across the bloc. Eurofer data shows that apparent steel consumption in the EU has dropped by nearly 15% between 2017 and projected 2024 levels.
Eurofer is urging the European Commission to increase the current safeguard tariff from 25% to a range of 32-41% for steel imports exceeding the established quotas.
The association has also requested stricter quota allocation mechanisms, including a 15% cap on countries’ access to “other countries’” quotas. This cap is currently applied to hot-rolled coil (HRC) and wire rod quotas.
Other demands from Eurofer include the introduction of more country-specific quotas, for no residual volumes to be carried over, and for no new developing countries exemptions. Presently, developing nations with limited historical supply to the EU and WTO membership are exempt from safeguard measures.
The European Commission has invited steel producers and users to participate in the ongoing review process by submitting questionnaires by January 10. Eurofer has not provided a comment on the matter.