The European Commission has sent member states a draft proposal to
extend the steel import safeguards for another three years.
The Commission is also expected to increase the quota volumes by
three per cent; which are due to expire on June 30.
The import quotas were expected to be extended for one year.
However, market insiders believe that this would have created
hesitancies.
If the volume increase applies to products of all origins and not
only to those that have not been subject to antidumping or
countervailing duties, as has been rumoured previously, this will be
good news, especially for Turkey and India.
There have also been talks about lifting Section 232 measures by the
United States, which has prompted the European Union to take action
to protect its domestic market from trade diversion.
Even the UK has extended steel import quotas for some products for
three years while removing the measure for some other products. The
country imposed its own quota system after Brexit. |
(To contact the reporter on this story: leo.ji@steelhome.cn or 86-555-2238932 18616060095) |