The European Federation of Steel, Tubes and Metals Distribution & Trade (EUROMETAL) has warned that excluding derivatives and downstream steel products from the EU safeguard framework could undermine Europe’s industrial competitiveness.
EUROMETAL stated that steel costs make up 70% of total sales for processors, while margins often remain below 2%. A 10% rise in steel prices, it said, could drive many SMEs out of business.
The group urged the European Commission to expand safeguard coverage, conduct an impact assessment, and introduce country-specific quotas to prevent the EU from becoming a “dumping ground for cheap imports.”
VietnamSteel by Hoa Sen Group
