MEPs call on the EC to develop effective restrictions on steel imports
Members of the European Parliament have called on the European Commission to take ambitious, long-term, and highly effective measures on steel trade. The relevant letter was published by the European Steel Association (EUROFER).
According to the letter, in its March Action Plan on Steel and Metals, the EC announced the following protective measures for steel, with the current measures expiring on June 30, 2026. The document stipulates that the new instrument will provide a highly effective level of protection for the EU steel sector. It is emphasized that this issue is of paramount importance, given the projected growth in global excess capacity.
In addition, MEPs recalled an informal document on a new trade defense system for the European metallurgical industry, an initiative approved by a group of eleven member states of the bloc.
The signatories of the letter (108 MEPs) believe that the new trade defense system should help European industry return to using resources in line with the 85% target set in the action plan. It should be implemented as soon as possible, ideally from January 2026.
Import market shares should be returned to a sustainable level comparable to 2012-2013, the period preceding the global overcapacity crisis. The system should also apply substantial tariffs on imports outside the quota in order to effectively limit them to the target market shares.
The new instrument should provide comprehensive coverage of all relevant products and countries, including steel derivatives where appropriate. The EC should also assess the effectiveness of the rule of origin (“smelting and casting”) in addressing circumvention.
The letter also states that the new system should comply with the EU’s international obligations, in particular, be compatible with WTO rules. In addition, the EC needs to take into account the competitiveness of steel-using sectors.
The signatories ask that these recommendations be taken into account in the future legislative proposal.
As a reminder, the European Commission will propose a new method of restricting steel imports to protect the region’s producers. This was announced by EC President Ursula von der Leyen in her annual State of the Union address.
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Steel Export Market Prices
| Material | Price | Change |
|---|---|---|
| Stainless Seamless Pipe 304 108*4 mm | $ 2196.65 | 11.34 |
| Stainless Scrap 304 Solid | $ 1296.97 | -12.95 |
| Stainless Bar 321 60 mm | $ 2197.04 | -13.10 |
| Stainless Bar 304 60 mm | $ 1956.28 | -13.25 |
| Stainless HR Coil 304/No.1 6.0 mm | $ 1902.08 | -9.39 |