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Home Steel News Assofermet Acciai reacts against EU's safeguard extension
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Assofermet Acciai reacts against EU's safeguard extension

17 Jun 2021 15:00 reported by Ranny Fang

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The European Commission decided to extend the EU safeguards measure until June 30, 2024. Assofermet Acciai, an Italian association representing domestic distributors, considered the decision not responsible and lack of common sense.

Assofermet Acciai stated that current market trends are very different from the beginning of 2020. It was not reasonable to extend the safeguard measures. Price increases were a direct consequence of speculation by steel manufacturers. The protective measures demanded by the steel industry were not only untimely but also counterproductive.

Assofermet Acciai believed that it was necessary to eliminate protectionism barriers. Only by importing large quantities of steel from third countries could it meet domestic demand and ensure the economic system's stability.

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