EU steel industry calls for stricter import protection measures

Due to the new crown epidemic sweeping Europe, the European Union steel industry faces a sharp decline in demand this year. Recently, it coincides with brexit, and the EU steel industry is preparing for a possible breakdown in future trade agreement negotiations between the UK and the EU. On Tuesday, the two sides resumed talks in London, trying to reach a last-minute trade agreement, less than 10 weeks after Britain's exit from the EU.

Eurofer officials say brexit is still a threat because it is likely to end up without an agreement. Industrial activities were affected by the epidemic, especially the automobile industry. The steel demand fell by 20.6%. Steel consumption in the EU will fall by about 14.6% this year.

Apparent crude steel demand, which measures steel producers' output plus imports minus exports, fell by 25.5% in the second quarter, the largest decline on record. Steel demand is expected to rebound by 13.1% in 2021, but the timing of recovery is uncertain due to the second outbreak.

Although imports have fallen with falling demand, Europe has reiterated its call for more stringent "protection" measures from the EU, fearing that rising steel production in other regions, especially China, will lead to future export surges.

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