The start of the safeguarding investigation of the 26th of March 2018 concerning the Inox steel importations, has produced a restrictive action against the free market, which we consider to be reasonable and balanced.
This action consists of applying duties on the US Import towards all the countries exporting amounts of steel to the US territory.
This restriction, 25 %, has in fact prevented the exporting countries from continuing to regulate the sales of iron and steel products. Since they can no longer be placed on the US markets, iron and steel products now represent a threat to the European markets and a damage to the Cee iron and steel factories.
Europe reacted to the hypothesis of a “steel invasion” with a temporary safeguarding measure imposing a percentage on duty-free products.
Besides the agreed percentage, which is obtained through the calculation of the average of the total importations in the last three-year period, the above-mentioned 25 % measure will now be applied.
This temporary measure will end on the 2nd of February 2019. After that date, a possible permanent regulation will be agreed upon.
It is currently not possible to speculate on future scenarios. Generally speaking, more inflexibility towards international competitors has always produced more controlled and more quotation-swings dependent market regimes.
Share your opinion with us.