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EU considering taking measures to tighten steel imports

2 Jun 2020 16:05 reported by Joy Liu

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It was reported the European Commission is considering tightening the steel import policies, but the German market participants showed contrary opinions.

The German Steel Federation (WV Stahl) suggested decreasing the import quota considering the probably sharp increase of steel after the coronavirus epidemic hit local manufactures.

Germany's largest union, IG Metall, showed their support to this view. However, the representative of steel consumption showed different ideas. They said they offered more job positions than the manufacturers.

The German association for cold rolling mills, FV Kaltwalzwerke, and the Sheet Metal Forming Industry Association (IBU) declared a joint statement that they did not see the sharp increase in imports and predicted it will not happen.

They questioned whether the manufacturers’ request complied with WTO rules, and this point got the support of analyst Andreas Schneider of Stahlmarkt-Consult, who pointed to decrease the quota by 75% was only to protect market share.

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