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EU proposes to extend existing steel safeguard measures to the World Trade Organization until 2026


According to the World Trade Organization (WTO), the European Commission (EC) has proposed extending import safeguard measures for 26 categories of steel imports from July 1, 2024 to June 30, 2026. The European HC260LA steel Commission stated that compared to 2021, EU steel production has been declining for two consecutive years, with a decrease of 11% in 2022 and 14% in 2023. The overall production capacity has remained stable for three years, resulting in a capacity utilization rate of 67% in 2023. At the same time, the European Commission believes that if the safeguard measures fail, the EU's import volume will increase, which will to some extent cause damage to domestic HC260LA steel production development. Another noteworthy point in the application submitted by the European Commission is the EU's proposal to set a 15% upper limit on the quarterly quota for hot coils and wires used by each country. This means that starting from the quarter of July to September 2024, each country will sell 141849 tons of HC260LA steel hot coils and 18000 tons of wire to other countries.

  • Source: Abstract
  • Editor: Shirley

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