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Extension of safeguard measures may tighten steel supply in Europe

13 May 2021 15:39 reported by Ranny Fang

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The Turkish Steel Exporters' Association (CIB) indicated that the EU should not extend the validity period of safeguard measures for steel imports. Otherwise, it would lead to tighter supply and higher prices.

CIB pointed out that Trump's section 232 duties had caused a sharp rise in US domestic steel prices. Therefore, the EU should not continue to implement safeguard measures.

The safeguard measures were valid for three years and would expire on June 30 this year. The European Commission considered extending the safeguard measures for 26 steel products and would announce the result on June 30.

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