Due to excess supply on the world market, prices in Europe are falling below production costs. He writes about this Financial Times.
European steel companies have called on trade authorities to find a solution to rising Chinese steel exports that are pushing European prices below production costs.
Manufacturers and Europe’s main trade body told the Financial Times that a new, comprehensive tariff system was needed to address the market-distorting impact of global overcapacity and protect domestic producers hit by weak demand and high energy costs.
China, the world’s largest steelmaker, is expected to export more than 100 million tonnes of the metal this year, more than in any year since 2016. The surge has already caused trade friction and led many countries to impose tariffs on imports.
China’s direct exports to Europe have been falling since the imposition of safeguard measures on some steel products in 2018, but the sector has been hurt by the knock-on effects of higher imports from other regions, he said.
Bloomberg in late August It has been said He said the Russian steel industry is growing amid a global downturn in the sector. Demand for steel in Russia has increased thanks to a special operation to promote housing construction and infrastructure projects.
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Source: Gazeta
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