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Europe poised to act over steel imports

  • Author:naky
  • Source:www.diecastingpartsupplier.com
  • Release on:2015-11-24
Europe’s steel industry is pushing for tough action against Chinese imports and a relaxation of environmental rules ahead of a high-level summit in Brussels about the sector’s future.

Ministers from EU member states will meet this afternoon to discuss the dire situation facing the continent’s steelmakers, underlined by a spate of plant closures in the UK, as well as ways to improve competitiveness.

Industry representatives have called for “immediate” measures against what they perceive as unfairly traded steel products, particularly from China, which they say are driving down prices. This has piled pressure on companies in Europe, where demand for steel is still 25 per cent below pre-crisis levels.

Axel Eggert, director general of Eurofer, the European steel association, said: “If this situation continues we will see more closures. We have modest steel demand growth in the EU but it is being taken almost entirely by imports. We need a level playing field with our global competitors. [The EU] should consider using all the trade tools it has available”.