EUROMETAL called on the European Commission to work with member states to ensure the participation of steel service centers, traders and distributors in the discussion of trade measures, board member Julian Verdun said on July 17.
"EUROMETAL fully supports the Commission, and the company is committed to supporting the European steel industry, which we strongly believe is vital to Europe," said Verdun, who is also managing director of Stemcor Europe, in a telephone interview with Platts. "However, there is no need for measures to restrict imports."
"I would suggest that the new measures that the EU is likely to put in place should be similar to the existing measures," he said. "Some changes and volume reductions may be reasonable, but the European Commission should discuss them with us, as we represent companies that employ many employees and are heavily taxed. We are happy to help propose optimal solutions so that the European Commission listens not only to steel producers."
EUROMETAL represents all participants in the steel intermediation chain.
Responding to recent requests from Eurofer for a 50% increase in protective duties and a reduction in quotas, Verden expressed serious reservations. He stressed that doubling the existing 25% duty is unwise and will worsen the problems faced by end consumers. "We are facing real difficulties," he said, noting that the current duties are already burdensome for many in the industry. While he acknowledged that some quota adjustments might be justified, he argued that a 50% reduction was unjustified, given that the market had only shrunk by about 15%.
The discussion also touched upon the effects of the Trump administration's tariffs, especially on exports of raw materials from Europe to the United States. He hinted that if the tariffs remain in place, it could lead to serious problems for European traders selling to the United States, especially for pig iron and other semi-finished products, as well as higher costs for American steel companies, which are likely to lobby for tariff reductions.
The U.
S. steel market has experienced significant volatility this year, which has greatly benefited domestic producers of raw steel. The current tariff policy has supported prices for finished steel products, although it has not had a significant impact on producer costs in the United States.
Despite the decline in hot-rolled steel prices in the Midwestern United States from the highs of mid-March, prices are still rising by 25% since the beginning of the year, according to Platts pricing data.
According to the data
