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European Steel Industry Faces Unfair Competition
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2010-11-11
The import of steel finished products in the EU has been increasing since the second half of 2010, with figures double than those in August and September. After this July, 25% of the supplies of hot rolled wire in the EU are from the import, with 1/3 from China, which is 15% more than the first half of 2010. According to a report of EUROFER, the strong competition of low-price hot rolled wire is mainly from China and Ukraine. Many countries with increasing steel demand and prices also progressively adopt protective measures to impede outside competition such as the special product quality testing for a specific cargo or the setup of minimum price as a basis to calculate tariff duties. EUROFER’s General Director Gordon Moffat pointed out that “Excluding the weak steel demand in Europe, the imported products are unfairly taking the European market share. We’ll continue to observe the situation of import as well as the protective measures in other countries and respond appropriately.”
