According to the statistics of Spain's steel association UNESID, the EU safeguards haven’t functioned well heretofore, because this tariff policy was supposed to reduce the percentage of the steel imports to protect local metallurgic industry. However, for the moment in the case of Spain, the volume of steel imports skyrocketed last year.
Doubtlessly, due to the safeguards, most of steel imports confronted an import quota, but obviously the exporter countries also knew how to take advantage of this point.
By means of the statistics of the aforementioned organization, Turkish steel exports to Spain was up by 52% in 2018. On the other hand, the other country worth paying attention was Taiwan, which marked an increase by 80% on its exports to Spain.
To sum up, Spain imported 10.8 million tons of steel last year. This number was twice the quantity fabricated by those two factories of ArcelorMittal in Asturias.
Source from Yieh Corp |
