core sector communique

Prior surveillance on imports of certain steel products

 

 

European Commission prolongs the steel import surveillance system until 31 December 2012. Product coverage now also includes flat stainless steel products.

 

EUROFER strongly welcomes the decision of the European Commission to prolong the steel import prior surveillance system and to extend its coverage.

This decision reflects the openness of the European steel market and therefore its vulnerability to sudden import surges. Rapid, advance information of sudden changes in trade flows is essential.

 “The burden-free automatic licence-based system is a reliable tool of accurate and timely information on anticipated steel imports. Advanced statistical information is critical for our industry permitting rapid analysis of increasingly volatile steel import trends.” said Gordon Moffat, Director General of EUROFER.

“In the current context of excess capacity worldwide driven by the huge over-capacity situation in China together with the protectionist measures adopted by all major steel regions outside Europe, there is a significant risk of diversion of trade flows to the European market. This measure by the Commission and member states is recognition of this threat and therefore a prudent precautionary measure”, explains Gordon Moffat.

In the current vulnerable situation of weak steel demand and affected employment, the European steel industry is faced with an imminent threat of severe injury from imports as some recovery of steel demand in Europe is expected”, concludes Gordon Moffat.         

Represented by EUROFER, the European steel industry is the world leader in its sector with a turnover of EUR 190 billion and direct employment of 420 thousand people, producing 200 million tonnes of steel per year.